The Big Three and the Fight over Mileage Standards

During weeks of closed-door talks with the auto industry, the Obama Administration has been pushing for lower mileage standards, which could also effect global warming. Will Americans pay more to achieve those goals? Also, party leaders meet with President on the debt ceiling, and Rupert Murdoch closes Britain's "News of the World" after an Internet hacking scandal that destroyed its journalistic brand name.

Banner image: An enlarged label shows fuel economy information of a 2011 Nissan Leaf during a news conference to announce new fuel economy labels for auto vehicles at the Department of Transportation May 25, 2011 in Washington, DC. Photo by Alex Wong/Getty Images