Amid backlash and controversy, Donald Trump has pulled out of the GOP debate he was set to moderate on December 27. Trump cited a potential presidential run as a reason he was dropping out of the Newsmax debate. In a statement, he said: "It is very important to me that the right Republican candidate be chosen to defeat the failed and very destructive Obama Administration, but if that Republican, in my opinion, is not the right candidate, I am not willing to give up my right to run as an Independent candidate. Therefore, so that there is no conflict of interest within the Republican Party, I have decided not to be the moderator of the Newsmax debate." Newt Gingrich and Rick Santorum were the only GOP White House candidates who agreed to participate in the debate.

Ron Paul is closing in on Republican presidential frontrunner Newt Gingrich in the race for Iowa. According to the latest Public Policy Polling survey, Gingrich leads Paul by a single point, 22% to 21%. Mitt Romney finished third in the poll at 16%. Gingrich, however, has a commanding lead int the latest national poll. According to a new Pew Research Survey, Gingrich leads Romney by a healthy double-digit margin, 35% to 21%.

Going into the Iowa caucuses in three weeks, Gingrich will have the support of not one, but two super PAC's behind him. The creation of a new political action committee on Tuesday called "Winning the Future" is the second super PAC  supporting Gingrich's presidential candidacy. "Solutions 2012," the other pro-Gingrich super PAC, was started last month. Super PAC's can spend limitless amounts of money to help support a candidate, provided that they do not coordinate directly with the candidate or campaign officials.

President Obama will get some help on the campaign trail next year from someone who knows a thing or two about being reelected president: Bill Clinton. Obama Campaign Manager Jim Messina said that he and top strategist David Axelrod met with the former president about a month ago. “It was a great time to get his advice, and I think you’ll see the president out there with us next year,” Messina said.

A terse exchange between Mitt Romney and a Vietnam veteran at a New Hampshire restaurant over the issue of same-sex marriage is raising quite a few eyebrows. On Monday, Romney approached 63-year-old Bob Garon, who was wearing a Vietnam veteran hat, while Garon and his husband were finishing up breakfast at the Chez Vachon restaurant. Garon asked Romney, “New Hampshire right now has some legislation kicking around about a repeal for the same-sex marriage. And all I need is a yes or a no. Do you support the repeal?” Romney responded yes, telling Garon “I believe marriage is between a man and a woman." Things got more heated when Garon pressed Romney for more information, and Romney again stated that he believed marriage was between one man and one woman.  Said Garon: "It's good to know how you feel because you do not believe that everyone is entitled to their constitutional rights." Responded Romney: "No, actually I think at the time the Constitution was written it was pretty clear that marriage is between a man and a woman, and I don't believe the Supreme Court has changed that." You can watch the entire exchange here.

Political Ad Watch: How much have Ron Paul's polltical ads improved in the past few years? Take a look at his this recent ad running in Iowa and compare it to this ad from the 2008 presidential race. As Slate noted: "Paul's videos cause two reactions in the press corps. One: 'Nice attack.' Two: 'When the hell did Paul get to be good at this?'"

Video Of The Day: Remember back in 2002 when Romney was a Republican who was running for governor not as a partisan-Republican, but as a moderate with progressive views? Just guessing this is not the same Romney currently running for president. Take a look: