WASHINGTON — Congresswoman Michele Bachmann says she decided to jump into the 2012 Republican presidential sweepstakes at this time because she believed it was “the right thing to do.”

The tea party favorite from Minnesota used her appearance in Monday night’s GOP candidate debate in New Hampshire to reveal that she had filed the necessary papers to be a candidate, expanding the current field of hopefuls to seven.

Asked how she would feel about former Alaska Gov. Sarah Palin getting into the race, Bachmann says, “I have great respect and admiration for the governor.” Bachmann tells CBS’s “The Early Show” that she believes the Republicans have a strong field and “I think we have room for more if the governor chooses to get in.” She says she’ll make her formal announcement soon.