Fox News Sunday Snippets: August 14, 2011

"Fox News Sunday" is live from Ames, Iowa, this morning, the day after the big event.

Ames Straw poll winner Michele Bachmann joins "Fox News Sunday" to react to Saturday's results and talk about the way forward after this big win.

Our panel today, Special Report's Bret Baier, Iowa GOP Chairman Matt Strawn and Weekly Standard's Steve Hayes, joins Chris to discuss the results, the impact of the newly-minted Rick Perry campaign, as well as what the president has on his agenda this coming week.

Check here for local listings.

What we are reading to prepare for the show.

Bachmann wins Iowa straw poll as Perry jumps in-Washington Post

The events of Saturday marked the opening of an accelerating chapter in a 2012 GOP campaign that has been slow to take shape. With Mitt Romney established as the frontrunner for the nomination, the entry of Perry and the victory here by Bachmann are likely to reorder the field and intensify the competition to emerge as the former Massachusetts governor’s principal challenger.

Perry overshadows Bachmann's Iowa victory-Los Angeles Times

Perry's name was excluded from the ballot because he didn't announce his candidacy in time, but backers mounted a write-in campaign. His late-starting campaign shakes up a wide-open nomination fight and poses a potentially serious threat to Romney, the presumed front-runner.

The former Massachusetts governor won the straw poll four years ago but chose to save money — and potentially prevent an embarrassing setback — by not actively competing. Romney's name was on the ballot, however, and he wound up seventh, with 567 votes, trailing the Perry write-in, which drew 718.

Pawlenty to hold morning conference call-Politico

Tim Pawlenty, low on cash and reeling from a distant third-place finish at Ames, will hold an early-morning conference call Sunday with top campaign staff and donors to discuss his next move, a source tells POLITICO.

Santorum: Happy With 4th Place in Iowa Straw Poll-Wall Street Journal

Former Pennsylvania Sen. Rick Santorum says he’s feeling pretty good about his fourth-place finish in the straw poll here, and for one reason: He apparently doesn’t think much of the top three finishers.

The top two winners, Rep. Michele Bachmann of Minnesota and Rep. Ron Paul of Texas, remain long shots for the nomination much less the presidency. The third place finisher, former Minnesota Gov. Tim Pawlenty, may have already peaked.

“All I can say is I feel very good looking at the people above,” Mr. Santorum said, calling himself “the fine wine candidate,” as in, “we will age very well.”

White House Debates Fight on Economy-New York Times

As the economy worsens, President Obama and his senior aides are considering whether to adopt a more combative approach on economic issues, seeking to highlight substantive differences with Republicans in Congress and on the campaign trail rather than continuing to pursue elusive compromises, advisers to the president say.

Mr. Obama’s senior adviser, David Plouffe, and his chief of staff, William M. Daley, want him to maintain a pragmatic strategy of appealing to independent voters by advocating ideas that can pass Congress, even if they may not have much economic impact. These include free trade agreements and improved patent protections for inventors.

But others, including Gene Sperling, Mr. Obama’s chief economic adviser, say public anger over the debt ceiling debate has weakened Republicans and created an opening for bigger ideas like tax incentives for businesses that hire more workers, according to Congressional Democrats who share that view. Democrats are also pushing the White House to help homeowners facing foreclosure.

Pressure’s on for deficit panel-Washington Post

The 12 congressional lawmakers appointed last week to the new, high-stakes deficit reduction panel will convene next month amid super-partisan pressures that have blocked past efforts at bipartisan compromise on debt reduction. Skepticism that they will reach a mutually acceptable agreement is running high.

But in their early public comments since receiving the assignment, several of the lawmakers appointed to the panel have sounded unexpectedly eager to find common ground — and to avoid taking the kind of rigid stands that would be difficult to rescind once negotiations begin.

'Doomsday' defense cuts loom large for select 12-Associated Press

For the dozen lawmakers given the task of producing a deficit-cutting plan, the threatened "doomsday" defense cuts hit close to home.

The six Republicans and six Democrats represent states where the biggest military contractors -- Lockheed Martin, General Dynamics Corp., Raytheon Co. and Boeing Co. -- build missiles, aircraft, jet fighters and tanks while employing tens of thousands of workers.

The potential for $500 billion more in defense cuts could force the Pentagon to cancel or scale back multibillion-dollar weapons programs. That could translate into significant layoffs in a fragile economy, generate millions less in tax revenues for local governments and upend lucrative company contracts with foreign nations.