WATCH: New Bachmann Ad Hits Obama's Econ Record

Republican presidential hopeful Rep. Michele Bachmann (R-Minn.) launched her third television ad in Iowa today, just eight days before the much ballyhood Ames Straw Poll takes place.

The ad, entitled “Believe It,”accuses President Obama of driving the nation’s economy “into a ditch,” something Obama has frequently accused Republicans of doing under the administration of former President George W. Bush.

Bachmann also touts her “no” vote against raising the country’s debt limit.

“Back in Washington, politicians are looting the treasury and bankrupting our nation,” she says. “Someone needs to say ‘no.’ I voted against raising the debt limit because it’s time to balance the budget and pay down the debt.”

Bachmann’s camp is making a strong push in Iowa, the state where the conservative lawmaker was born.