After the Senate failed to pass the President's proposal for a commission to examine ways to deal with the soaring debt by a vote of 53-47 (The Senate rules still require 60 votes to pass anything), Mr. Obama will be enacting a commission by Executive order, which he will talk about during his first State of the Union address tonight. 

We will of course bring you full coverage of the address beginning at 9PM Eastern tonight, but in the mean time head over to the New York Times and read the while article here.