Yesterday, Michele Bachmann officially dropped out of the race for the GOP nomination after receiving just 5% of the vote in the Iowa Caucus. Meanwhile Rick Perry - who came in 5th place with 10% has decided to stay in the race though he trails Mitt Romney, Rick Santorum, Ron Paul and Newt Gingrich. 



- He was going to drop out, but changed his mind after forgetting that he got so few votes.

Meanwhile, Obama advisor David Axelrod is working to create a new nickname for Mitt Romney: “The 25% Man”. That’s in reference to the fact that Romney has never gotten more than 25%, not only in the Iowa Caucus but in any major poll of GOP voters. 

- New Gingrich is now organizing an “Occupy Romney” protest outside Mitt’s campaign headquarters, referring to himself and the other candidates as “The Other 24 Percent”.