memeorandum: ‘Person of interest’ detained in L.A. arson fires (Sam Quinones/L.A. NOW)

11:30 AM 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: Talking Points Memo, Le·gal In·sur·rec· tion, CNN, Catholic Bandita, The Other McCain 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

New York Times:
Romney Fights for First-Place Showing in Iowa Caucuses

Discussion: Firedoglake, Washington Post, Iowa Caucuses, Slate and msnbc.com

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, 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 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: Big Government, The Hinterland Gazette and Pat Dollard

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

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 …

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

CNN:

About 200 birds found dead in Arkansas city for second straight New Year's Eve — (CNN) — Someone went into a large roost of blackbirds in Beebe, Arkansas, as the clock struck midnight Saturday and set off fireworks, contributing to the deaths of scores of blackbirds, a state wildlife spokeswoman said.

Discussion: The Raw Story and Joe. My. God.

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