America's Historical Struggle With Debt and Taxes

Aired: 11/27/2012 | 0:09:50 | Clip
Between paying now or paying later, Americans have just about always preferred debt to taxes. Paul Solman talks to Simon Johnson of the MIT Sloan School of Management about his new book "White House Burning," which chronicles the history -- including the whys and whererfores, virtues and vices -- of U.S. debt.