Michele Bachmann (taken by Gage Skidmore, Creative Commons)

"While a congresswoman by title, I am not a politician nor do I ever hope to be one... I am not motivated in this quest by vain glory," she said at the conference.

Bachmann also said her main motivation to run for president had been in reaction to Obamacare.

"I ran as the next stepping stone.  I ran because I believed Obama's policies were destructive to the republic.  I ran to secure the promise of our children's futures.  I will continue fighting… for more liberty in our government… to fight to end excessive government regulation… I will fight for this country in the way every day that God allows me to," she said.

Despite suspending her campaign, Bachmann said her fight to protect "the fragile republic" will not end and she urged people "to rally" around whomever the Republican party choses as its presidential nominee.  "This may be the last election to turn this country around before we go down the road to socialism," she said.

A native Iowan, Bachman won the Iowa straw poll in August but finished last in the Iowa Caucus Tuesday night with 5 percent of the vote.

Following the results, Bachmann cancelled her trip to South Carolina, causing speculation that her campaign was nearing an end.

According to USA Today, Bachmann also faces re-election for her House seat in November.