Power Play Live Video: 2012 - The Debt Election

Chris Stirewalt discussed the global debt crisis with Ashley Webster of the Fox Business Network who says he is a "skeptical when it comes to these credit rating agencies," such as Fitch, which says America has until 2013 to come up with a credible plan.

"Really, it's just a wake up call," said Webster, but nothing the country cannot weather.

David Mercer, the former Deputy National Director of the Democratic National Committee agrees, however adds that this has to be dealt with by both cutting spending and increasing taxes.

"We have not dealt with the revenue side at all, and it has got to be addressed," said Mercer.

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