After a day of Congressional leaders of both parties courting skeptics in their rank-and-file, the House of Representatives passed a deal to raise the debt ceiling and slash federal spending by a vote of 269-161. The legislation is scheduled to be voted on by the Senate today at noon. Among the 161 "no" votes were both Democrats and many Tea Party Republicans, united in opposition for ideologically different reasons. One of those Democrats who voted against the bill was Congresswoman Jan Schakowsky of Illinois, who is a member of the president's National Commission on Fiscal Responsibility and Reform.

Members of the President's deficit commission are debating how to vote on a controversial plan to reduce the nation's budget deficit. Rep. Jan Schakowsky (D-Ill.) says she plans to reject the plan put forward by the commission's co-chairs, Erskine Bowles, former Chief of Staff for President Clinton, and Republican former Senator Alan Simpson. Instead, she's offering an alternative plan which would sharply reduce spending at the Pentagon and raise corporate taxes, targeting windfall profits and excessive executive pay.

Congresswoman Jan Schakowsky (D-IL 9), member of the president's deficit reduction committee, offers her plan for cutting the deficit.