The National Journal is quoting an anonymous source who says Michele Bachmann is dropping her bid for the White House. The source says the campaign sees "no viable way forward" after her sixth-place finish in the Iowa caucuses.
Bachmann has canceled a trip to South Carolina and scheduled a 10 a.m. news conference in Iowa amid mounting rumors that she'll step out of the race, according to the Hill.
Political insiders, including Sarah Palin and her own former campaign manager Ed Rollins, are saying her campaign is essentially finished. "I think if she goes on she's just going to go into debt," Rollins says in an interview in the Huffington Post.