A Republican candidate has quit the GOP presidential race — but it’s not Rick Perry, who has been the focus of speculation that he would end his bid if he did poorly in Iowa.

It’s Michele Bachmann.

Reports the Associated Press, "Bachmann said Wednesday she has ‘decided to stand aside’ but would continue fighting to overturn what she called President Barack Obama’s ‘socialist policies.’"

The AP story continues, "Like Bachmann, Texas Gov. Rick Perry took a blow in the caucuses — finishing fifth. He flew home to decide whether to stay in the race. It appears the answer is ‘yes.’ He tweeted Wednesday that he was bound for South Carolina."