OVERNIGHT MONEY: Joe Biden heads to New Hampshire

THURSDAY’S BIG STORY:

Surprise, surprise, President Obama and Vice President Biden are running for reelection. All right, so that’s not news. But Biden will make it official in New Hampshire on Thursday when he files the necessary campaign paperwork at the statehouse in Concord. 

That’s not all … the vice president will hawk the White House’s jobs bill to voters in the Granite State — where Obama won by four points in 2008 — during a speech at Plymouth State University.

{mosads}New Hampshire is the proud owner, so-to-speak, of the nation’s first presidential primary. Its status as a swing state, and with former Massachusetts Gov. Mitt Romney running as a GOP candidate, the state will be an important get for both parties.

This is the first foray for the White House into New Hampshire as the 2012 campaign gets cranking.

The president’s intention to run again was made clear last spring when he official filed with the Federal Election Commission.

WHAT ELSE TO WATCH FOR:

Housing staple: The 30-year fixed rate mortgage will be the big topic of discussion tomorrow at the Senate Banking Committee. The ability for budding homeowners to get a long-term loan at a consistent rate has been a staple of American housing finance for decades. However, as lawmakers look for a way to rework how the nation does housing in the wake of the collapse of Fannie Mae and Freddie Mac, some are worried that staple could become unaffordable for many potential homeowners. Academics, economists and experts will be on hand for Thursday’s subcommittee hearing to discuss what the fate should be for that lengthy lending.

Foreign travels: The Senate Banking Committee will also be hashing out all the economic troubles abroad with a second subcommittee hearing. Lael Brainard, the Treasury Department’s under secretary for international affairs, will be on hand to discuss the threats to the global economy and financial system. Europe’s continued struggles to get a handle on its debt crisis will surely be a major topic of discussion, but talk of fast-growing economies like China and Brazil could also be debated as they pertain to the global scene.

In your face … book: Labor Secretary Hilda Solis will announce a partnership using social media and the ever-popular Facebook to connect workers to jobs. Solis and Facebook reps will be joined by the National Association of Colleges and Employers, DirectEmployers Association and the National Association of State Workforce Agencies.

Get on the bus: The Senate will proceed Thursday with the appropriations “minibus” governing the departments of Agriculture, Commerce, Justice, Transportation and Housing and Urban Development. Majority Leader Harry Reid (D-Nev.) announced that the Senate will take up a cloture vote on the bite-sized portion of the president’s Jobs Act on Friday, The Hill’s Alexander Bolton reports. The bill, aimed at retaining teachers and firefighters, is expected to fail due to unified GOP opposition to raising taxes on millionaires and skepticism by some centrist Democrats.

On the road to jobs: The Bipartisan Policy Center is holding a breakfast on balancing infrastructure spending and budget cuts, with Sen. Tom Carper (D-Del.) set to speak. 

Last but not talking: The congressional supercommittee will meet on Thursday after its 12 members met Wednesday with lawmakers in the Senate Gang of Six. Lawmakers aren’t talking about how discussions are going behind closed doors — maybe they’ll provide some insight during their next public hearing in a week, when Congressional Budget Office Director Douglas Elmendorf testifies again. The panel could get a not-so-gentle nudge that CBO will need a plan soonish to provide a score before Thanksgiving. 

LOOSE CHANGE

Batting .500?: Pew Research reports that Americans could see a lot to like in Occupy Wall Street’s goals. Their tactics? Maybe not. 

Dig out your flannel shirt and your Pearl Jam CD: Rick Perry’s getting ready to go all 1996 on the Republican presidential race. According to The Hill’s Josh Lederman, the Texas governor said in Las Vegas Wednesday that he will unveil a flat tax next week as part of an economic plan that will also propose a balanced-budget amendment and an end to all earmarks. 

Perry’s roll-out comes after Herman Cain and his 9-9-9 tax plan have shot up the GOP polls, and three presidential election cycles after Steve Forbes famously touted the flat tax during his run for the White House. 

ECONOMIC INDICATORS

• Initial claims: The Department of Labor releases its weekly filings for jobless benefits. Claims have been dropping recently but they’re not making significant progress to lower unemployment levels. 

• Existing home sales: The National Association of Realtors releases September figures for sales of existing homes. 

• Leading indicators: The Conference Board will release a batch of previously announced economic indicators: new orders, jobless claims, money supply, average workweek, building permits and stock prices.  

BREAKING WEDNESDAY

Social Security gets a hike: About 55 million seniors are getting a 3.6 percent cost-of-living adjustment (COLA) that starts in January, while another 8 million who receive supplemental security income will see increased payments beginning Dec. 30, the Social Security Administration announced Wednesday. The Hill’s Vicki Needham has more. 

{mossecondads}Senate Finance Committee Chairman Max Baucus (D-Mont.) called the increase “welcome news for seniors facing high prices for everyday items like gas, food and medicine.”

“This boost in benefits helps seniors make ends meet, and it shows that Social Security works to respond to their needs,” he said. “Our focus moving forward needs to be keeping Social Security strong for today’s seniors and for generations to come.”

WHAT YOU MIGHT HAVE MISSED

— Farm groups try to shape supercommittee payment cuts

— Rifts harden over budget process reform

— Increase in housing starts could portend improving market

— Fed: Economy growing slightly as concerns remain

— Supercommittee gets advice from Gang of Six

— Durbin presses Wells Fargo on new fees amid rising profits

— Tax group: 9-9-9 raises taxes for 84 percent

— Citigroup pays $285M for selling, and betting against, iffy mortgage package

— Mortgage applications dropped sharply last week

— Pryor puts hold on all Treasury nominees

— GAO: Fed needs to be more transparent about its directors

For tips and feedback email vneedham@digital-staging.thehill.com.