The gloves came off Thursday night as Republican presidential hopefuls clashed in an Iowa debate that for many candidates serves as a warm-up for Saturday's straw poll in Ames.

The debate started with a question for U.S. Rep. Michele Bachmann of Minnesota about her claim that the economy could be turned around in a single quarter. The Minnesota congresswoman, a favorite of the tea party, used the opportunity to slam President Barack Obama on the economy and to bash Congress for raising the federal debt ceiling. Bachmann had a single message for Obama: “You are finished in 2012,” she said.

Focus then turned to former Gov. Mitt Romney of Massachusetts, the current front-runner for the Republican nomination despite downplaying the Ames straw poll. “We are inches away from no longer having a free economy,” insisted Romney, who also took aim at Obama on the economy.

Other candidates also weighed in on how to improve the economy. U.S. Rep. Ron Paul of Texas slammed the recent deal to raise the federal debt ceiling, arguing that it did not cut federal spending. Businessman Herman Cain promised to cut taxes.

Former Gov. Tim Pawlenty took aim at his fellow Minnesotan. He argued that Bachmann’s record of accomplishment in Congress was “nonexistent” and hammered her as an ineffective legislator. Bachmann fired back, bashing Pawlenty for supporting cap-and-trade legislation and the individual mandate.

Asked by Chris Wallace of Fox News, who was one of the moderators of the debate, about the internal problems his campaign was having, former U.S. House Speaker Newt Gingrich attacked the press for its focus on unimportant matters instead of policy. "I campaign on ideas," insisted Gingrich.

Former Utah Gov. Jon Huntsman, making his debut in the debates, defended his service as ambassador to China under Obama. Huntsman insisted he would always serve his country.

The debate turned to immigration with Huntsman promising to defend the border and Romney pledging to crack down on businesses that hire illegal aliens. Paul said he was opposed to forcing the states to provide services for illegal immigrants and argued that America was too focused on the Middle East and not on securing the border with Mexico.

Gingrich took aim at Obama for not being able to deliver on immigration reform. "He rammed through Obamacare, but he couldn't get through immigration,” said Gingrich.

The debate then turned toward taxes and Romney attempted to defend his record in Massachusetts to raise taxes to upgrade the S&P rating for the state. Pawlenty said he made a mistake during his tenure in Minnesota in raising taxes on cigarettes.

Pawlenty’s record on taxes led to a second round between the two candidates from Minnesota. Bachmann used the opportunity to rip into Pawlenty for cutting a deal. Pawlenty quickly fired back on the congresswoman, saying Bachmann was misleading viewers.

The moderators then turned to former U.S. Sen. Rick Santorum of Pennsylvania. Santorum said he would not raise taxes and would work to cut spending if he was elected. The problem is in spending, not taxes,” insisted Santorum.

All of the candidates save Huntsman who had kind words for U.S. House Speaker John Boehner, R-Ohio, came out against the deal to raise the federal debt ceiling before the debate turned to health care.

Unlike a debate that took place in New Hampshire in June, Pawlenty opened fire on Romney for backing a state health-care program that relied on using an individual mandate.

"I think I liked Tim's answer at the last debate better," replied a smiling Romney, who insisted he opposed the federal health-care law. “I think we have to repeal Obamacare.”

Romney defended the law he signed in Massachusetts. "The right answer in every state is to determine what is right for those states," said Romney.

Taking aim at both Obama and Romney, Bachmann argued that the government -- be it at the federal or state level -- could not force a citizen to purchase a product.