President And GOP Haggle Over Tax Cuts, Deficit

Members of President Obama's deficit commission, along with his newly-appointed panel on the Bush-era tax cuts, are trying to hammer out compromise deals. The commission is set to vote Friday on an unpopular proposal to reduce Social Security benefits, raise the retirement age, eliminate tax breaks and slash government spending.

Washington insiders are watching the president's team of negotiators to see if they can come to an agreement by week's end on a deal that may temporarily extend Bush-era tax cuts not just to the middle class but also to the wealthy. We speak with Wall Street Journal reporter Laura Meckler.