At one point, she was leading the field in Iowa. Now, Bachmann‘s former campaign manager says the GOP hopeful’s campaign has “run out of money and ideas.”

Ed Rollins, who left the campaign in September, said the Minnesota congresswoman had backed off earlier comments by her campaign that Iowa was a “must-win” state because she lacked the finances, campaign structure, and ideas to win the first-in-the-nation caucus state.

“She’s still saying the same things she said in the first the debate. There’s no substance. She says, ‘I’m going to repeal Obamacare.’ But she’s been saying that from Day 1. I told her: That’s your Tea Party speech, now you have to say what you’re going to do next.”

On this point, I’m in complete agreement with Rollins.  Bachmann has failed to shine in recent debates because repeating how Obama will be a “One. Term. President” does not a presidential campaign make.

In an interview Sunday on ABC’s “This Week,” Bachmann refused to say whether Iowa was a “must win” state as her current campaign manager, Keith Nahigian, had said. Nahigian took over after Rollins left.

“Of course, we’re focused on Iowa. We’re focused on the schedule and the primary process. Iowa is the first caucus. Then on to New Hampshire. And after that, the first in the South, which will be South Carolina. So we’re focused on the schedule that the states are now agreeing on, and that’s our order,” Bachmann said.

“But is it a must-win for you,” anchor Christiane Amanpour asked.

“Well, we’re focused on it as we are all on the states,” Bachmann responded.

What do you think?  Is Bachmann’s quest for the Oval Office nearing an end?