Bachmann quits race, vows to "Fight to defeat the president's agenda of socialism"

Although Rick Perry's announcement that he would run for president on the same day Michele Bachmann's Ames Straw Poll win sucked some of the air out of her campaign, the Minnesota congresswoman can look at staff upheavals and her gaffes for her poor showing in last night's Iowa Caucuses.

This morning she ended her campaign.

In her exit speech, she pledged her commitment to repealing ObamaCare and the Dodd-Frank bill.

And she fired this parting shot at President Obama: "I will fight to defeat the president's agenda of socialism."

As for Perry, he's expected to suspend his campaign.

UPDATE 11:15 AM CST: According to a Perry Tweet, he may not be quitting.

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