FEC report shows Bachmann exited presidential race a million in debt

Michele Bachmann received $1.7 million in contributions the last quarter of 2011, Federal Election Commission fillings show, but she was also a million dollars in debt.

Her filings with the FEC show the Bachmann for President committee is almost $1.06 million in debt, but her campaign points out that when combined with her other fundraising committee — MicheleBachmann.com — the outstanding obligations would be closer to $447,000.

Bachmann received almost 35,000 contributions from almost 25,000 contributors, according to her campaign. The average contribution amount was approximately $49.22, her campaign said in a statement.

"We are so thankful for all the support from donors across the country, and are especially proud of the large number of contributions from small donors," her campaign manager, Keith Nahigian, said in a statement. "The campaign is in the process of quickly retiring outstanding obligations in short order."

The Minnesota lawmaker's campaign spent almost $2.7 million the last quarter, which ended Dec. 31. The campaign still has about $358,700 cash on hand.

Bachmann, who was a favorite of the conservative Tea Party movement, dropped out of the race at the beginning of January when she finished sixth in the Iowa caucuses. She has not endorsed another candidate.

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