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The 2011 Iowa GOP Debate: On Debt, Economy

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Welcome to About.com's live coverage of the 2011 GOP presidential debate, hosted this evening in Ames, Iowa on the campus of Iowa State University. Watch the coverage on FOX News and Fox News Online tonight.

9:03 p.m., EST: U.S. Rep. Michele Bachmann (R-Minn.), in clarifying an earlier statement which said she could turn around the U.S. economy in three months, says "I have been leading the movement" on the debt ceiling. Economic progress would begin to turn around in three months, problems not fully addressed then.

9:07 p.m: "They couldn't come to a conclusion because they didn't know what was going on," U.S. Rep. Ron Paul (R-Texas) says about the Congress on debt ceiling deal. "You don't bail out those who are bankrupt, and pour out the debt on the people."

9:11 p.m.: Jon Huntsman defends Utah record as governor, says he will lead on creating competitive environment for growth in jobs. "We created the most business friendly environment in the country, maintaining a AAA bond rating," Huntsman said.

9:13 p.m.: "Where is Barack Obama's plan on social security reform, Medicare reform, Medicaid reform? If you can find his plan on any of these reforms, I will come to your house and cook you dinner. Or, if you prefer, I will come to your home and mow your lawn. But, in Mitt's case, I'll limit it only to one acre," former Gov. Tim Pawlenty quipped.

-- Brandon De Hoyos, Guide to IM

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