The Nuts and Bolts of President Obama’s Deficit Reduction Plan

Republican critics like Mitch McConnell are calling it “class warfare” and a “massive tax hike” with “phantom savings.” The president calls it simply a matter of shared sacrifice. Is Obama’s new deficit reduction plan, which he unveiled in a speech Monday morning,  a piece of legislation with a legitimate shot of being voted into law or simply a campaign move ahead of the 2012 election? And does the president’s math add up when he says the bill is paid for? Takeaway Washington correspondent Todd Zwillich  fact checks the Obama plan.