Debt Ceiling Fate Boils Down to Semantics

With the August deadline on the debt ceiling looming, President Obama and Republicans say they have agreed on a set of spending cuts. The president is insisting that the package include some revenue. The debate seems to center on when is a tax increase not a tax increase. David Wessel, economics editor of The Wall Street Journal, talks to Renee Montagne about Thursday's deficit reduction talks at the White House.