Later today, the House of Representatives will vote on the "cut, cap and balance" plan being pushed by House Republicans as a prerequisite for raising the country's debt ceiling. The plan is expected to pass in the House, where Republicans hold a majority, but will likely die in the Democrat-controlled Senate. President Obama has already said he will veto the bill.
With the August 2 deadline just two weeks away, and the country's financial standing hanging in the balance, why are Republicans and Democrats drifting further apart in their efforts to reach a compromise? Takeaway Washington correspondent Todd Zwillich has the latest from Capitol Hill.