White House's Daley on Debt Ceiling, Budget Deficit

July 26 (Bloomberg) -- White House Chief of Staff William Daley talks about U.S. House Speaker John Boehner's two-stage plan to raise the federal debt ceiling and cut $3 trillion in government spending. Daley also discusses the possibility that President Obama may act unilaterally to raise the debt limit and Senate Majority Leader Harry Reid's alternative $2.7 trillion plan to provide the debt-limit increase Obama seeks to get through the 2012 elections. Daley speaks with Al Hunt on Bloomberg Television's "Taking Stock." (Source: Bloomberg)