Debt Showdown: Playing Politics with the US Economy

E-mail and phone lines are jammed on Capitol Hill, and there's a nasty Twitter campaign against all of Washington. But despite the impending deadline, Democrats and Republicans are still far apart on the debt ceiling. We talk about what one of our guests calls, "The Politics of Calamity." Also, intelligence officials say al Qaeda is near collapse, and famine and food aid in the Horn of Africa.

Banner image: Traders work on the floor of the New York Stock Exchange during morning trading on July 27, 2011 in New York City. The Dow was down more than 100 points in morning trading placing the Dow on pace for a fourth straight day of decline as the debt crisis debate continues. Photo by Mario Tama/Getty Images