WHITFIELD: All right. This week, Iowa is playing host to several major political events. Here's CNN's deputy political director Paul Steinhauser.</s>PAUL STEINHAUSER, CNN DEPUTY POLITICAL DIRECTOR: Hey, Fred. Michele Bachmann makes it official tomorrow. The congresswoman from Minnesota formally announces her candidacy for president in neighboring Iowa. That's the state that kicks off the presidential caucus and primary calendar. Bachmann, who's a favorite of many Tea Party supporters, is launching her White House bid in Waterloo, Iowa, that's the town where she was born. But the announcement is no surprise. She spilled the beans nearly two weeks ago at our presidential debate in New Hampshire.</s>REP. MICHELE BACHMANN (R), MINNESOTA: I just want to make an announcement here for you, John, on CNN tonight. I filed today my paperwork to seek the office of the presidency of the United States today. And I'll very soon be making my formal announcement.</s>STEINHAUSER: The next day, a very positive movie about Sarah Palin premieres in Iowa. The film was made by a conservative filmmaker highlights Palin's years as Alaska governor and her entrance on to the national political spotlight as John McCain's running mate in 2008. Palin, of course, she's considering a run for the White House. And guess who's on Iowa on that very same day? Yes. President Barack Obama. He's got an economic event in a state that gave him his first victory in 2008 on his path to the presidency. Iowa was then and will be again a crucial battleground state. Behind the scenes, all of the presidential candidates concentrate on raising campaign cash with the end of the second quarter fundraising coming to a close at the end of the week. By Friday, we could learn how much money some of the campaigns have in their war chest -- Fred.</s>WHITFIELD: All right. Thanks so much, Paul. And for the latest political news you know exactly where to go, CNNPolitics.com. Hired, then laid off on the same day. The incredible story of some Cleveland police recruits.
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