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.

2012 Candidates Shun Debt Deal

A number of Republican Presidential candidates, including frontrunner Mitt Romney, have come out against the deal to raise the debt limit struck by Congressional leaders and the White House Sunday night.

“As president, my plan would have produced a budget that was cut, capped and balanced — not one that opens the door to higher taxes and puts defense cuts on the table,” Romney said in a statement. “I personally cannot support this deal.”

Rep. Michele Bachmann (R-Minn.), who flatly opposes raising the debt ceiling, said that the compromise “spends too much and doesn’t cut enough.”

“Someone has to say no. I will,” Bachmann said.

According to a report in the Daily Caller, former Minnesota Governor Tim Pawlenty’s camp is also highly critical of the deal.

“Only in Washington would the political class think it’s a victory when the government narrowly avoids default, agrees to go further into debt, and does little to reform a spending system that cannot be sustained by our children and grandchildren,” Pawlenty’s spokesperson Alex Conant said in a statement. “While no further evidence was needed, this entire debt ceiling fiasco demonstrates that President Obama must be replaced.”

Former Utah Governor Jon Huntsman, widely viewed as the GOP field’s go-to centrist candidate, described the deal as “not my preferred outcome” but encouraged members of Congress to vote for it in order to avoid default.

Bachman Committed To Not Raising The Debt Ceiling

By Andy Wiltrout

Speaking to an audience at the National Press Club in Washington, D.C. on Wednesday, conservative Republican presidential candidate Rep. Michelle Bachmann (Minn.) reaffirmed that she will not vote in support of raising the country’s debt ceiling.

When asked if she would support John Boehner’s (R-Ohio) two-step plan, Bachmann said, “I will not be casting my vote for that bill…I am committed to not raising the debt ceiling.”

Indeed, Bachmann skipped a vote this morning on a rule allowing for limited debate of Boehner’s plan.

Bachmann chalked up failed negotiations on raising the debt limit to a failure of leadership exhibited by President Obama.

“The President has kicked the can to the Vice President, kicked the can to the Congress, and he has failed to lead in this issue of grappling the spending, the debt, and the economy,” she said.

Citing a statement from Treasury Secretary Timothy Geithner, Bachmann said that with well over 300 million Americans, the government is sending out 80 million checks a month. According to Bachmann, the government is paying for everything in this country. She called for a complete review of what government should and should not be involved in.

“We have to have a fundamental restructuring of how we spend money,” she said. “Unfortunately, with the plan that is being offered later this afternoon, we aren’t making that fundamental restructuring.”

Poll: Romney Continues To Lead GOP Field

Former Massachusetts Governor Mitt Romney continues to lead the Republican field in the run up to the 2012 Presidential election, according to a new Gallup poll.

Among announced candidates, the survey shows Romney leading over his closest challenger, Minnesota Congresswoman Michele Bachmann, by 27-18 percent. Ron Paul comes in third at 11 percent and all other candidates fail to land double digits.

When candidates who have not officially announced their entry into the race are thrown into the mix, Romney maintains his frontrunner status, but less strongly. He holds a slight 17-15 percent lead over Texas Governor Rick Perry and a five point lead over former Alaska Governor Sarah Palin, who takes 12 percent of the vote. Former New York City Mayor Rudy Giuliani comes in with 11 percent. If only Perry enters the race, Romney leads 23 percent to 18 percent and if only Palin decides to host a run, Romney leads 23 percent to 15 percent.

The poll was conducted July 20^th through 24^th among 1,088 Republicans and Republican leaning independents.

Poll: Voters Want Candidates To Combat Deficit With Revenue And Cuts

With the 2012 elections on the horizon, a majority of voters say that they would prefer a Congressional candidate who is open to reducing the deficit via spending cuts and tax increases, according to a new poll from Rasmussen Reports.

According to the survey, 56 percent of respondents said they would vote for a candidate who supports a balanced approached. In contrast, only 34 percent said they would back a candidate automatically opposed to any increases.

“These results suggest that focusing exclusively on opposition to tax hikes rather than solutions to the federal deficit crisis is a losing position for Republicans,” Rasmussen Reports President Scott Rasmussen said in a statement. “Spending cuts are preferred over tax hikes, but the primary objective right now is to reduce the debt.”

The poll, which was conducted among 1,000 likely voters between July 22^nd and 23^rd, comes as lawmakers attempt to craft a deal to simultaneously combat the deficit and raise the debt ceiling. Republicans have vehemently opposed any attempt to raise revenue that would increase taxes. According to a Rasmussen poll from July, 14^th, 55 percent of Americans opposed raising taxes as part of a deal to increase the debt limit.