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Congressman Bill Owens: "Cut, Cap and Balance" a "waste of time"

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Lawmakers are voting today on a Republican measure to increase the government's borrowing limit and maintain America's "Triple A" credit rating. The House's GOP majority is backing a "cut, cap and balance" plan that would allow the U.S. to borrow some $2.4 trillion.

But first, politicians must agree to big spending cuts that will go into effect almost immediately. Republicans also want a constitutional amendment requiring a balanced federal budget. North Country Congressman Bill Owens, a Democrat, says he won't support the plan. He spoke with Chris Morris.

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Reported by

Chris Morris
Tri-Lakes Correspondent

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