Is Political Gridlock a Threat to Governance?

Political gridlock is pushing Washington closer to financial catastrophe if the two parties can't agree to raise the debt ceiling by August 2. Now there's potential gridlock over implementing last year's finance reform. Elizabeth Warren is out as head of the new Consumer Protection Bureau. Will that be enough for Republicans? Is Washington losing the ability to govern? Also, Minnesota's Governor signs the budget, ending the government shutdown. On Reporter's Notebook, America's weather is not what it used to be.

Banner image: President Barack Obama walks out of the Oval Office with Consumer Financial Protection Bureau founder Elizabeth Warren (L) and Richard Cordray to announce Cordray's nomination to head the new Consumer Financial Protection Bureau on July 18, 2011. Photo by Nicholas Kamm/AFP/Getty Images