Rep. Rush Holt on Social Security cuts in debt ceiling talks

The latest news out of the ongoing negotiations to raise the country’s debt limit is that President Obama is putting entitlement reform on the table. But Nancy Pelosi and other Democrats say they were caught completely off-guard by the president’s latest proposal, and said that the Party is opposed to including Social Security cuts in any kind of deal. The president says the two sides remain divided and far from finding reaching an agreement, but House Speaker John Boehner says there’s a 50-50 chance that they’ll be able to arrive at a decision this week. Will the president’s dramatic proposal be the catalyst that moves the debt deal forward? Representative  Rush Holt, Democrat from New Jersey’s 12th district, tells us about his party’s next steps in the negotiations.  Takeaway Washington correspondent  Todd Zwillich  gives us the latest where the deal stands going into the weekend.