Pawlenty to Announce Presidential Bid on Monday; Cain Tomorrow

In what could be interpreted as a sign that Tim Pawlenty is betting big on Iowa, the former Minnesota governor will announce that he is running for president on Monday in Des Moines, the AP reports.

He's choosing to make his long-expected bid official in a critical state in his path to the GOP nomination. Advisers acknowledge that Pawlenty, 50, must win or turn in a strong showing during next winter's caucuses in the neighboring state of Iowa to have any chance of becoming the Republican who will challenge President Barack Obama, a Democrat, next November.

Herman Cain will announce that he is also running for president on Saturday in Atlanta, according to the Atlanta Business Chronicle:

Georgian Herman Cain plans to announce during a rally Saturday at Centennial Olympic Park he’s officially in the 2012 presidential race, according to Cain's website.

Cain is a former Atlanta-based radio host, former chief executive of Godfather’s Pizza, and former chairman of the Federal Reserve Bank of Kansas City. He joins fellow Georgian Newt Gingrich in seeking the office.

Both candidates have been running exploratory committees and participated in the Fox News sponsored presidential primary debate earlier this month.