Though she hasn't made any formal announcements about a 2012 presidential run, Rep. Michele Bachmann, R-Minn., certainly sounded like a candidate Monday, speaking at a Tea Party rally in South Carolina.

"You recognize that in Washington D.C., your rights are being taken away from you," she told the crowd gathered on the steps of the state capitol in Columbia. "And maybe that has something to do with the fact that this week, President Obama has his lowest approval rating numbers ever. It's my opinion that President Obama will be a one term president!"

Bachmann is a Tea Party regular but Monday's event is notable since it took place in the "first in the south" primary state of South Carolina. She has been spent time in Iowa, New Hampshire and South Carolina and is a prolific fundraiser, packing away $2.2 million in the first quarter of 2011.

And during the speech, Bachmann suggested 2012 will be the Tea Party's time.

"Because in 2012, that's our chance to win the Triple Crown, the House of Representatives, the United States Senate. And we'll send a change of address form to 1600 Pennsylvania Avenue."

Talking with reporters after the rally, Bachmann said she would like to participate in the May 5th debate the South Carolina GOP and Fox News are hosting in Greenville. But she noted her lack of a formal campaign announcement could keep her out of the lineup.

"We're weighing that right now. Our understanding is there's a requirement that a person has to have filed an exploratory committee. It wasn't our intention to do that until June, and so perhaps some of those technicalities can be worked out. We would be more than delighted."