Failure to Raise Debt Ceiling 'Could Lead to Another Recession'

Failure to Raise Debt Ceiling 'Could Lead to Another Recession'

Negotiations still appear deadlocked in the United States over raising the U.S. debt ceiling. Although both sides see the debate as an opportunity to bring down the nation's rapidly expanding deficit, leaders of the Republican-controlled House of Representatives say it will oppose any efforts by President Barack Obama to raise taxes. With the deadline fast approaching, economists say both sides are making a high stakes gamble. Mil Arcega reports.