American Action Pres. Reacts To Midterm Election Results

Douglas Holtz-Eakin, President of the American Action Forum, says Democrats taking control of both chambers is bad news for the U.S. fiscal outlook. He expects larger deficits as the White House and Congress negotiate spending, including possible extensions of enhanced health-insurance tax credits and additional defense and Iran-reconstruction funding, though he does not expect a major reconciliation package. He speaks with Vonnie Quinn on "The Close." (Source: Bloomberg)