GOP Presidential Hopefuls To Face Off At Reagan Library

SIMI VALLEY (CBS) — Viewers from around the country will get their first look Wednesday at Texas Gov. Rick Perry as he goes head-to-head during a debate with the other major GOP presidential contenders.

"This debate is critically important for Rick Perry. It's the first debate since he's gotten into the race and frankly all the eyes are on him," Jon Fleischman of the FlashReport.org told CBS2.

Fleischman, the editor of the FlashReport.org, says the debate could turn into showdown between Perry and former Massachusetts Governor Mitt Romney.

"Of course everyone's gonna be looking at how does Romney deal with the fact that he's now been bumped and at least for this debate, he's not center stage," Fleischman said. "But it's really gonna be a Perry-Romney show tonight."

Six other leading Republican contenders will be on stage as well, including Congresswoman Michele Bachmann -- a favorite of the Tea Party and former House Speaker Newt Gingrich.

Political blogger Joel Fox says the debate will be key for their fundraising as well.

"The key is, though, where are the donors going to go. And if in fact the donors follow governors Perry or Romney, then it's going to be awful tough for the other candidates to keep up," Fox said.