Political panel: How are lawmakers reacting to the McConnell/Reid budget plan?

On Thursday, President Obama told congressional leaders that he expects them to consult with their respective caucuses and find agreement over the next 24 to 36 hours on how to proceed with the debt talks.

The President is scheduled to hold a news conference at 11 a.m. today to provide an update on the status of the negotiations - a subject which has brought partisan tempers to a boil over the past week.

Today on American Morning, Jim McLaughlin, GOP strategist, John Avlon, CNN political contributor, and Maria Cardona, Democratic strategist, weigh in on how they think the talks will progress.