The Latest on the Debt Ceiling Standoff

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Last night, House Speaker John Boehner was forced call off a vote on his proposal to raise the debt ceiling after failing to gain enough support among House Republicans. It is unclear if the House Republican leadership will attempt another vote today. Boehner's plan, which would allow for two modest debt increases — the second of which would come during the 2012 election season — to be coupled with spending cuts. Democrats, who control the Senate, and the White House have said all along that the plan is a non-starter. If Boehner cannot gain support from restive conservatives in his party, it could be a political gain to Democrats going into next year's elections.

Todd Zwillich, The Takeaway's Washington correspondent, has the latest on the story from inside the halls of Capitol Hill. Ron Christie, Republican political strategist, CEO of Christie Strategies, and former special assistant to President George W. Bush, talks about the political calculus being made by his party's Congressional leaders.