President Obama's Debt Commission will hold a meeting at 9:30 a.m. ET to announce the final vote total on the commission's plan to reduce the deficit. Press reports have the group falling short of the 14 votes needed to have the measure taken up by Congress for a vote. Commission members will have the opportunity to explain their position and Co-Chairs Erskine Bowles and Alan Simpson have offered to read statements for members that will not be present.
Expect an angry day of floor speeches in the Senate, as a deal to hold four votes on the so-called Bush tax cuts fell apart Thursday night. The plan was to arrange a Friday vote for two Democratic and two Republican plans for how to deal with the tax measures, which expire at the end of the calendar year. As a result of the impasse, Senate Majority Leader Harry Reid, D-Nev., filed for cloture on the two Democratic tax cut proposals Thursday night, setting the stage for a pair of rare Saturday cloture votes.
The Senate Armed Services Committee has its second day of hearings on the military's review of it's "Don't Ask, Don't Tell" sexual orientation policy. Vice Chairman of the Joint Chiefs of Staff, Marine Gen. James Cartwright and the heads of all five service branches are set to testify.
The Joint Economic Committee discusses November's employment figures with the Bureau of Labor Statistics Commissioner Keith Hall at 9:30 a.m. ET. The current consensus is for an increase of 145,000 payroll jobs for the month, but the expectation is for unemployment to stay at 9.6 percent.
We'll be following all these stories and more, so stay with Fox News for all the latest.