As today's Washington Post notes, Dem strategists are divided right now over whether to dig deep into their pockets to fund uphill but somewhat competitive races. Well, here's such a contest. CQ Politics has just changed the rating of the race between 12-year GOP Rep. Gil Gutknecht and Dem challenger Tim Walz, a retired command sergeant, from "Republican Favored" to "Leans Republican." More after the jump.

From CQ:

The race, originally ignored by the well-funded campaign committees and outside groups, also began to draw serious cash for the first time in October — $123,000 in the month so far, according to Congressional Quarterly’s PoliticalMoneyLine.com.

The largest expenditure to date was a $91,000 media buy on Oct. 4 by the public service union AFSCME to run ads critical of Gutknecht. The National Republican Congressional Committee has gotten in on the action in recent days and has produced an attack ad against Walz; there is no word yet on what kind of media buy they would undertake.

The Democratic Congressional Campaign Committee has not spent any money on the race, but has listed it among its “emerging races” to watch — a signal to Democratic donors that they should consider pitching in to help Walz.

Dem Party strategists are disputing whether to go into debt to fund a broader field of races, including ones which are emerging only now as competitive. Read Josh Marshall's take on this debate here.