GOP contender Michele Bachmann, trailing far behind frontrunners Newt Gingrich and Mitt Romney in the polls, said today she can win in Iowa because the two leading candidates "have significant flaws."

"We're going to be shocked on Jan. 3 when we see the results," Bachmann said during an appearance on CBS's "Early Show."

Asked how she could come from behind, given the size of Gingrich's current lead, Bachmann said, "Two weeks can be an eternity."

Bachmann said voters in Iowa are looking for socially conservative candidates, and she is more conservative that Romney and Gingrich.

"My point in all of this is to bring clarity because it's important for people to know where we stand on the issues. … Romney and Gingrich, both of them have significant flaws that don't represent what the people of Iowa are looking for, particularly on the life issue," she said.

"Pro-life is very important for Iowa. Mitt Romney has been on the side of abortion [and] same-sex marriage. And Newt Gingrich, this past week, said that he would not protect life from conception. Those are key foundational issues," she said.

Bachmann continued her assault on Newt Gingrich later in the day, calling him a "frugal socialist," for supporting a prescription drug benefit for those on Medicare.

While on Glenn Beck's radio show, former House Speaker Gingrich said: "To take a position that we won't help you with insulin but we'll pay for your kidney dialysis is both bad at the human level and bad at the financial level."

When Bachmann appeared later on Beck's show, she criticized her opponent.

"My response is it doesn't help to have a frugal socialist," Bachmann said.  "That's really what we're talking about, is managing socialism and trying to be a frugal socialist."

Beck interrupted asking: "Did you just say that Newt Gingrich is a socialist?"

"What I'm saying is - I'm saying is a 'frugal socialist,' because you're looking at proposals and programs that are, in effect, a redistribution of wealth and socialism-based. Are we going to have real change in the country, or are we going to have a frugal socialist," Bachmann said.