Debt-limit fight takes shape: Will Mitch McConnell ever be satisfied?

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Republicans say they will not raise the debt limit unless the increase is offset by spending cuts. Senate minority leader Mitch McConnell (R) of Kentucky hinted at their strategy when he told CBS's "Face the Nation" Sunday that if the government has to pare back services to deal with an unchanged debt limit, it would be the president's fault. For his part, President Obama says he won't allow Republicans to hold the debt limit hostage and won't play ball. Behind the scenes, there are rumors of a "grand bargain" that could tie up all the outstanding issues in a nice bow. Stop us when this sounds familiar.

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