Reports are circulating that Chief Justice William Rehnquist has retired, and that it will be announced later today.

Redstate.org:

Robert Novak is reporting that William Rehnquist will retire at 4:50pm today when the President lands in Washington.

A source close to the White House tells me that the White House is operating under the assumption, based on presumed knowledge of Novak's source, that this will, in fact, happen. Yes, keep in mind that I am not being told that the White House is confirming this, but that the White House has a good idea it should trust Novak's source.

Third party sources are now telling me that the John Paul Stevens rumor is true and that the White House is now planning for a third vacancy, but not until the end of the year. Third party sources, who I treat as credible, say that Stevens has begun taking actions in his personal life to make arrangements for personal affairs. It is presumed that Stevens is taking steps to retire. A separate third party source tells me that Ginsberg is not expected to retire, as her health is fine. Stevens has reportedly sent signals that he will retire once replacements for both O'Connor and Rehnquist have been confirmed.

Over at Drudge:"Reporter Bob Novak declares on CNN that Rehnquist will announce retirement today after Bush's plane touches down at Andrews AFB approx. 4:50 PM EDT..."

... after which Sens. Ted Kennedy, Patrick Leahy and Charles Schumer will immediately go on an...err...drinking binge to console themselves.

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The Washington Post on the potential of twin vacancies:

Twin vacancies would present Bush with an intriguing choice: Does he use the opportunity to appoint two reliable conservatives who would shift the court away from what he sees as improper judicial activism on divisive issues such as abortion, religion in public life and gay rights? Or does he try to balance competing impulses by filling one seat with a conservative who would strictly interpret the Constitution and the other with his friend, Attorney General Alberto R. Gonzales, who is less favored by the right but would be the first Hispanic on the nation's highest court?

Joshua Micah Marshall thinks a double vacancy is better for the Democrats than a single:

"The best argument that the Dems can make is that President Bush is in a loose sense trying to pack the Court, trying to push the Court decisively to the right by appointing an activist and an ideologue. It seems to me that that argument is much stronger if he's appointing two of nine than one of nine."

The "Quick and Dirty Guide" to potential Supreme Court nominees over at Right Wing News.

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More SCOTUS:

Patrick Ruffini on "Outcomes over Process."

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Update:

No resignation yet. So much for rumors.