Michele Bachmann (R-Minn)

*The dreams of becoming the first female president in the U.S. have come to an end for Rep. Michele Bachmann.

The Republican Minnesota congresswoman who is known for her controversial, fiery remarks has dropped out of the presidential race today, according to a source close to the National Journal.

The suspension of her campaign comes a day after her poor showing in the Iowa Caucuses where she finished 2nd to last with only 5 percent of the vote. Mitt Romney and Rick Santorum both finished in first and second separated by only 8 votes.

Bachmann, a staunch conservative, who was a voice of the Tea Party and frequent critic of President Obama, is said to believe that there is no viable way forward after her poor showing in the Iowa Caucuses last night.

Read more at National Journal