Debt Ceiling Negotiations and the Fear of Default

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With Democrats angry at him for offering spending cuts and Republicans adamant about higher taxes, President Obama is trying to look like the only adult in Washington. We look at the politics of increasing the debt ceiling to avoid another recession. Also, Elizabeth Warren is bypassed for head of the consumer watchdog agency, and the Women's World Cup brings joy to a stricken nation.

Banner image: Checks are piled at the US Treasury printing facility in Philadelphia, Pennsylvania. President Obama recently stated that he can't guarantee retirees will receive their Social Security checks in August if the House and Senate can not reach an agreement on reducing the deficit. Photo Illustration by William Thomas Cain/Getty Images