Daily Political Wire

George Wenschhof

No Deal Expected To Be Announced By Deficit Committee Today - unless a wave of reasonableness overtakes the members of the deficit reduction super committee, the co-chairs are expect to announce today an agreement to reduce the deficit was not reached. TPM.com has more here.

If so, expect a lot of partisan finger pointing to take place but, do not expect any drastic measures to take place in Washington. The mandated 1.2 trillion in cuts to be triggered by the failure of the super committee do not take effect until 2013 and the 1.2 trillion in cuts are spread over ten years.

Contentious votes which will be now needed by Congress by the end of this year will be for extension of long term unemployment benefits, extension of individual payroll tax reduction, and a measure for doctors who are set to receive a 30% cut in reimbursement from medicare.

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Romney/Gingrich Tied For First in Latest Poll - in a USA Today/Gallup nationwide poll released today, Mitt Romney received 20%, Newt Gingrich 19% and Herman Cain 16%. Gallup.com has more here.

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Gingrich to Propose Privatizing Social Security Today - as he rises in the polls, Gingrich will be in New Hampshire to propose private market investment options for younger earners. Former President George W. Bush proposed the same type of program and was hammered by democrats for doing so. Expect the same partisan reaction to this proposal. You can read more here.

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Unrest in Egypt Continues - clashes between police and protesters in Cairo's Tahrir Square have continued for three days, with reports of at least 23 dead. Protesters are unhappy with the pace of the turnover of power from the military to a civilian government. The NY Times has more here.

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New Sanctions Against Iran Expected to Be Announced Today - the Obama administration is set to announce new sanctions against Iran's petrochemical industry. U.S. companies are already barred from doing business with Iran. The new measures would threaten to ban countries who do business with Iran's petrochemical industry from U.S. markets. CNN.com has more here.

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