Obama, Republicans Bring Out the Budget Knives

This week, Republicans plan to set records with proposed spending cuts. Today, President Obama offered what he's calling a "responsible alternative." It hits hard at programs dear to Democrats — to provide increases for education, infrastructure and clean energy. It also raises some taxes. Republicans call it an "abdication of leadership." But it's just the beginning of a process that could lead to a government shutdown if there's no compromise. Is either side really making hard choices? We look at the early maneuvering and ask why neither side has yet to mention Medicare, the military, Social Security and the long-term deficit.