Wisconsin Sen. Russ Feingold (D) is airing his first TV ad of the campaign. The 30-second spot focuses on his work to cut the deficit and his vote against the 2008 bailout.

The ad comes a week after former Gov. Tommy Thompson (R) declined to challenge the three-term Democrat. Feingold will likely face one of the following three Republicans: businessmen Terrence Wall and Dave Westlake, or former Wisconsin Commerce Secretary Dick Leinenkugel, who is formally announcing his entrance to the race today.