Budget Impasse; Paul Ryan's 2012 Budget; Libya Update

As we go to air, there is no sign of a budget deal in Washington, and a government shutdown looms large. We examine the causes for the budget stalemate the implications for both parties if they fail to reach an agreement. We also discuss the GOP budget proposal for Fiscal Year 2012, put forth by the chairman of the House Budget Committee Paul Ryan, and the Democrats' response to it. Also, the latest on Libya.

Banner image: Senate Majority Leader Harry Reid (D-NV) (L) and House Speaker John Boehner (R-OH) arrive to speak to the press after a meeting with Congressional leaders at the White House April 6, 2011. Photo: Brendan Smialowski/Getty Images