Debt ceiling: Federal showdown on the horizon

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Debt ceiling: Federal showdown on the horizon

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Debt ceiling: Federal showdown on the horizon

by CBSTV Videos 0:24 mins

Debt ceiling: Federal showdown on the horizon

by CBSTV Videos 0:24 mins

Treasury Secretary Jack Lew asked congressional leaders to raise the debt ceiling, allowing the government to keep borrowing money. House Speaker John Boehner and other Republicans say they want spending cuts first. White House officials say they won't negotiate. Anthony Mason reports.

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