Political panel: What is the status of the White House budget negotiations?

Congressional leaders will return to the White House today for further negotiations after Republicans and Democrats were unable to reach an agreement this weekend on a deficit-reduction deal that will pave the way for a hike in the nation's $14.3 trillion debt ceiling.

At 11 a.m. today, President Barack Obama is scheduled to hold a press conference in the White House briefing room about the status of the negotiations.

Susan Molinari, former Congresswoman and Republican analyst, and Jennifer Palmieri, former White House Deputy Press Secretary, join Kiran Chetry this morning to discuss the concessions each side seems willing to make to advance budget talks and to weigh in on if a deal could be reached by next week.