Afternoon update:

OPINION

• Tyler Cowen: Republicans who promise no new taxes without laying out a detailed spending reduction plan are hypocrites
• Michael Barone: It’s time to elevate Herman Cain to contender status
• Glenn Reynolds: Some suggested amendments to the Constitution to put further limits on politicians and power

LATEST NEWS

• Video: Mitt Romney explains the difference between ObamaCare and RomneyCare – again
• GOP House members point fingers at each other over disagreements about policy and politics. - The Hill
• Cain and Perry spat over Perry’s ranch sign continues. - Politico 2012 Live
• While Romney and Perry say Christie would be fun, Cain disagrees: “He’d be too liberal.” - The Daily Caller

Immigration dogs Perry at every stop in New Hampshire

“’It’s what all my friends keep talking about,’ said Katherine Prudhomme-O’Brien, a Derry Republican activist, of the tuition rates. ‘It’s the thing they say they’re not voting on him on’…If the GOP was divided over immigration in the Bush era, there is now little question about where the center of gravity is on the issue. Even among New Hampshire Republicans, traditionally less culturally conservative than their Iowa and South Carolina counterparts, a hard-line on the border is the only acceptable position.” - Politico

• But Perry’s working hard to clean up his immigration problem. - Matt Lewis at The Daily Caller

Even if Christie gets in, the question for his team remains whether they’ve got enough time

“With the governor now seriously considering getting in, his strategists — many of them veterans of Rudolph W. Giuliani’s 2008 campaign — are internally assessing the financial and logistical challenges of mounting a race with less than 100 days until voting is likely to begin.” - New York Times

• But the “shadow campaign” that has arisen around Christie over the past few months already gives him the infrastructure he needs to come out of the gates swinging. - The Hill
• How many times has Christie said he won’t run? A bunch. The SF Chronicle rounds them up.

Early primary state voters starting to focus on electability

“At least in Iowa and New Hampshire, some Republicans are shifting toward Romney and Perry— at the others’ expense. ‘If we keep focusing on immigration and gay marriage, we’re going to lose,’ said Kathy Potts, an Iowa Republican who had been a key volunteer for Santorum until switching to Perry in September. ‘He may not be perfect. But he can win. That’s the most important thing.’” - Washington Times

2012 round-up:

• Huckabee asks Romney just how socially conservative he really is. - Breitbart
• Chris Christie shouldn’t be so trusting of the “experts” on global warming. - Roger Simon at PJM
• Obama tells the Human Rights Campaign the Republican candidates were wrong to stand silently while the gay soldier was booed. - Politico
• Perry finds his inner Reagan in N.H. - Examiner
• Texans overwhelmingly see the issue of tuition for children of illegal immigrants as Perry sees it. - NY Times
• Bachmann misses all of September’s congressional votes while on the trail. - The Hill | Roll Call
• Did Florida’s early primary decision kill Christie’s chances of getting in? - CSM

Sign of the times for Obama: W. Virginia’s embattled Democratic governor keeping mum on whether he’d vote for the President

“’There are certain areas that I disagree with the president on completely, and I will continue to fight that even though he may be in my party,’ [Governor] Tomblin said after a rally in Logan County, south of Charleston. The area south of the state's largest city is strongly Democratic.’” - Hotline

Dodd-Frank hits home: You can thank Dick Durbin for the new ATM fees you’ll be paying

“Bank of America drew Durbin's particular ire because its management directly blamed Durbin by name for the new $5 per month charge it is leveling at customers who make purchases with their debit cards. "Bank of America is trying to find new ways to pad their profits by sticking it to its customers," Durbin said in a petulant statement released this week. This might almost pass the laugh test, if not for the fact that every bank is adjusting to Durbin's dumb law in nearly the same way.” - Examiner editors

Perry: We should be open to sending troops to Mexico to stop drug-related violence

“Texas Gov. Rick Perry said Saturday that he would consider sending U.S. troops into Mexico to combat drug-related violence and stop it from spilling into the southern United States…The issue opens the door to scrutiny of Perry’s position on U.S. military intervention generally.” - Washington Post

Will Romney’s private sector experience actually bring him down, as it did with Meg Whitman?

“Most voters have never heard of Romney's baby, Bain Capital. If Romney is the GOP nominee, however, folks will hear plenty about every worker layoff and plant closing that occurred under the investment firm's direction.” - Debra Saunders in the SF Chronicle

Herman Cain’s 9-9-9 plan getting so well-known that people are stopping him on the street to talk about it - Washington Post

Spending cuts? No, no, no: Let’s talk about tax hikes first

“Democrats want tax hikes to be the first item negotiated in ‘super committee’ deficit-reduction talks, trying to force Republicans to confront an issue at the heart of this year's budget fights.” - Reuters

Get ready for a historic Supreme Court term, opening Monday

“The justices are being asked to decide the constitutionality of the landmark healthcare act, the ability of states to enforce strict immigration laws and whether the government can continue to monitor the airwaves for indecency. The court could also reopen the question of affirmative action in college admissions, rule on the rights of gay adoptive parents and decide whether the blindingly fast pace of modern technology has reshaped Americans’ notion of privacy.” - Washington Post

Police arrest 700 in New York Occupy Wall Street protests, as copycat protests spring up elsewhere

“Elsewhere in the U.S. on Saturday, protesters assembled in Albuquerque, N.M., Boston and Los Angeles to express their solidarity with the movement in New York, though their demands remain unclear.” - FoxNews | USA Today

• Oops: Protestors angered after being told Radiohead would make a protest appearance – and then learning it was a hoax. - NY Daily News

Housing blues: Level of investment in housing is at its lowest level since 1945

“It is hard to see the economy returning to health until housing gets better. And with a glut of foreclosed and distressed homes still on the market, it is hard to see that happening anytime soon.” - WSJ’s Real Time Economics

• And don’t expect consumer spending to make up the difference, as it also remains at unhelpfully low levels. - USA Today

Google joins Apple to lobby for a tax holiday on offshore profits, an issue increasingly gaining traction as part of overall tax reform - Bloomberg

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