North Carolina Rep. Renee Ellmers slams President Obama for suggesting the GOP debt reduction approach of ‘Cut, Cap and Balance’ is not serious. Ellmers explains what the plan would do while suggesting Obama’s only remedy is more taxes. Where would the GOP cut spending? What is their approach to entitlements? And how does she respond to Democratic charges that the Balanced Budget Amendment is simply a vehicle to impose the Republican political agenda? We discuss it all with Rep. Renee Ellmers.