Out of money and momentum, Bachmann calls it quits.

A last place finish in the Iowa caucuses marked Michele Bachmann’s last stand as a presidential candidate.

The Minnesota congresswoman called it quits Wednesday during a press conference in West Des Moines, saying “Last night the people of Iowa spoke with a very clear voice, so I have decided to stand aside.”

It’s all about momentum.

Four years ago, I was in Iowa for NY1 News, and remember like it was yesterday, on the Democratic side, Obama won Iowa and never looked back. Hillary Clinton while she made it competitive, she was never able to catch Obama from Iowa.

Last night, Mitt Romney won by 8 votes in Iowa over former Pennsylvania Sen. Rick Santorum. We’ll see if Romney can do the same, (what Obama did) while Newt Gingrich has declared he “reserves the right to tell the truth.”(translation–Newt plans to throw everything including the kitchen sink at Romney) This with all the talk of Romney has hit a glass ceiling of only 25 percent of Republican voters support, AND he received fewer votes than he did four years ago.

Texas Governor Rick Perry suspended his campaign last night, to only declare now, it’s on to South Carolina. Go figure.