Obama's Deficit Plan

The White House has proposed a plan to save 3 trillion dollars over the next decade, but they've tacked on 1.1 trillion in planned war savings to try and push that up to 4 trillion. Then, there's the Buffet Rule where the president will call for a new minimum tax rate for individuals making more than 1 million dollars to ensure that they pay at least the same rate as middle-income taxpayers. Republicans have already responded by calling it class warfare. Obama also said if the super committee comes up with only cuts to entitlement programs and no tax increases, he'll veto the plan. Dean Baker, co-director of the Center for Economic and Policy Research discusses.