Firebrand Minnesota congresswoman Michele Bachmann has given up her Republican presidential nomination after suffering a crushing blow in Iowa caucuses. “Last night, the people of Iowa spoke with a very clear voice, and so, I have decided to stand aside,” Bachmann said in the state's capital Des Moines on Wednesday, the morning after her dismal sixth-place showing in the state's primary caucuses. She promised to continue to fight against President Barack Obama's 'agenda of socialism,' saying she had chosen to run because the 2012 presidential polls was the “last election to turn this country around before we go down the road to socialism.” Before experiencing the defeat, the Iowan was an early favorite of the conservative Tea Party movement for her anti-immigration and anti-Muslim rhetoric. The first statewide party nomination contest was narrowly won by former Massachusetts governor Mitt Romney.