Moody's warns of US default risk

Moody's has warned the US government that a failure to raise the debt ceiling could greatly impact the nation's credit rating. Why are sides still unable to compromise then? "It's hard to negotiate with a crazy person," says Erica Payne, founder of The Agenda Project. "Obviously we have a long term debt problem," she says. Whether or not it will get solved without catastrophic repercussions remains a mystery though. More