Political headlines: Tapping the oil reserves and the status of budget talks

Political debate over the budget deficit and raising the debt ceiling are at an impasse today after House Majority Leader Eric Cantor announced yesterday that he was pulling out of the negotiations.

President Obama also announced Thursday that the US Department of Energy is releasing 30 million barrels of oil from the country's emergency reserves to address the disruption caused by the turmoil in Libya.

Kiki McLean, democratic strategist, and Tony Blankley, conservative columnist, join Christine Romans and Drew Griffin to discuss the implications of both of these issues on American Morning today.