PBS NewsHour: What Happens if Lawmakers Don't Reach Debt-Ceiling Deal by Deadline?

July 12, 2011

Debt-ceiling negotiations crept along Tuesday as both sides agreed on the need for action, but not on the fundamentals of a deal. Gwen Ifill discusses the specifics of what would happen if negotiators don't reach an agreement by the Aug. 2 deadline with Jay Powell of the Bipartisan Policy Center.