Political Firestorm Flares As Sequestration Looms

Aired: 8/3/2012 | 0:06:44 | Clip
Should Congress fail to pass a deficit reduction plan by the end of the year, the 2011 Budget Control Act will trigger budget cuts of $1.2 trillion, evenly split between defense and non-defense spending. The result has been a political brawl on the campaign trail and between the political parties. Margaret Warner reports.