President Obama Negotiates Debt Ceiling and Federal Budget

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David Sanger, chief Washington correspondent for the New York Times, joins Kerry Nolan to discuss the debt showdown in Washington. President Obama will hold a press conference at the White House this morning ahead of today's bargaining session on raising the nation's debt ceiling and slashing the budget. So far, the bi-partisan talks haven't borne any fruit and the August 2nd deadline looms. The question is: Will there be a $4 trillion package or one half that size?