memeorandum: Headed for a Photo Finish in Iowa (Tom Jensen/Public Policy Polling)

12:10 PM ET, January 2, 2012

Top Items:

Headed for a Photo Finish in Iowa — The Republican caucus in Iowa is headed for a photo finish, with the three leading contenders all within two points of each other. Ron Paul is at 20%, Mitt Romney at 19%, and Rick Santorum at 18%. Rounding out the field are Newt Gingrich at 14% …

Roger Simon / The Politico:

Mitt don't need no surges — DES MOINES — If Mitt Romney wins the Iowa caucuses, the race for the Republican nomination is over. — If Mitt Romney comes in second in Iowa, the race for the Republican nomination is over. — And if Mitt Romney comes in third in Iowa, the race for the Republican nomination is over.

Discussion: The Week, CNN, Talking Points Memo, Le·gal In·sur·rec· tion, Telegraph, Catholic Bandita, The Other McCain, The Daily Beast and Ballot Box

Lydia Saad / Gallup:

GOP 2012 Battle to Date Most Akin to Dems in 2003 — Four Republican front-runners in 2011 compares with five Democrats in 2003 — PRINCETON, NJ — The lead in the Republican nomination race has thus far changed seven times since May in Gallup polling. Mitt Romney, Rick Perry, Herman Cain …

Discussion: The Politico, Ballot Box and Taegan Goddard's …

Gschwarzcnn / CNN:
‘Iron Lady’ goes back up on Iowa TV

Discussion: The Politico and Towleroad News #gay

msnbc.com:
First thoughts: Romney vs. Santorum

Discussion: Pat Dollard, Iowa Caucuses and New York Times

Steve Benen / Washington Monthly:

Cantor can't handle the truth about Reagan — CBS's “60 Minutes” ran a good profile on House Majority Leader Eric Cantor (R-Va.) last night, but there was one portion of the interview that was especially important. — In this video, it starts at about the 10:19 mark.

Discussion: CBS News, Outside the Beltway, The Raw Story, Connecting.the.Dots, The Mahablog and The Political Carnival

Paul Krugman / New York Times:

Nobody Understands Debt — In 2011, as in 2010, America was in a technical recovery but continued to suffer from disastrously high unemployment. And through most of 2011, as in 2010, almost all the conversation in Washington was about something else: the allegedly urgent issue of reducing the budget deficit.

Discussion: The Moderate Voice, National Review, Daily Kos, Cafe Hayek and Ricochet Conversations Feed

Annie Karni / New York Post:

Columbia offers ‘Occupy 101’ — Does getting pepper-sprayed count as extra credit? — Columbia University is offering a new course on Occupy Wall Street next semester — sending upperclassmen and grad students into the field for full course credit. — The class is taught by Dr. Hannah Appel …

Discussion: Michelle Malkin, Big Government, Ed Driscoll, The Raw Story, Questions and Observations, Gothamist, American Glob, Weasel Zippers, The Gateway Pundit and City Room

Associated Press:
68 Occupy protesters arrested in NYC on New Year's

Discussion: Wonkette, Right Wing News and americanthinker.com

Nick Allen / Telegraph:

Americans buy record numbers of guns for Christmas — Americans bought record numbers of guns last month amid an apparent surge in popularity for weapons as Christmas presents. — According to the FBI, over 1.5 million background checks on customers were requested by gun dealers …

Discussion: No More Mister Nice Blog, Big Government, Pat Dollard and The Hinterland Gazette

Robert Pear / New York Times:

After Three Decades, Tax Credit for Ethanol Expires — WASHINGTON — A federal tax credit for ethanol expired on Saturday, ending an era in which the federal government provided more than $20 billion in subsidies for use of the product. — The tax break, created more than 30 years ago, had long seemed untouchable.

Discussion: Democracy in America, Campaign 2012, americanthinker.com and Outside the Beltway

Sam Quinones / L.A. NOW:

‘Person of interest’ detained in L.A. arson fires — Los Angeles police this morning detained and are questioning a “person of interest” in the spate of arson fires occurring around the city since Friday. — The individual, believed to be the man seen in a video police released Sunday …

Discussion: Hot Air, Pat Dollard and americanthinker.com

BBC:

Colombia Urabenos ‘drug gang leader’ shot by police — Juan de Dios Usuga was killed in Choco, the north-western province which was his power base — Officials in Colombia say the alleged leader of a powerful criminal gang has been killed in a police operation.

Discussion: PoliBlog

Sharon Otterman / New York Times:

Obscuring a Muslim Name, and an American's Sacrifice — He was buried after the Sept. 11 attacks with full honors from the New York Police Department, and proclaimed a hero by the city's police commissioner. He is cited by name in the Patriot Act as an example of Muslim-American valor.

Discussion: Simply Left BehindThe …

Ilan Grapel / Washington Post:

In Egypt, jailed but not broken — Five months in an Egyptian jail gives a person a lot of time to think. When you are not pacing or trying to catch an hour of afternoon sun through the barred window, there are thoughts of home, family, the freedoms Westerners take for granted …

Discussion: Harry's Place, Elder of Ziyon, Israel Matzav and YID With LID

Nelson D. Schwartz / New York Times:

Austerity Reigns Over Euro Zone as Crisis Deepens — Europe's leaders braced their nations for a turbulent year, with their beleaguered economies facing a threat on two fronts: widening deficits that force more borrowing but increasing austerity measures that put growth further out of reach.

Discussion: Wall Street Journal, Prairie Weather and Calculated Risk