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PRESS Pass with U.S. News & World Report Chief Zuckerman

Mort Zuckerman, editor-in-chief of U.S. News and World Report, discusses shutting down "News of the World," the debt ceiling debate, a sluggish economy and the housing market for this week's PRESS Pass.

Billionaire businessman Mort Zuckerman said the failure to compromise on the debt limit signals a lack of political leadership in Washington, adding that there is an "avalanche of debt come down upon us and nobody's doing anything about it."  This comes as the President on Thursday met with brass from both parties at the White House in an attempt to strike a deal.

Zuckerman, the editor of U.S. News & World Report, also commended Rupert Murdoch for closing down the long running British newspaper News of the World amid reports that the tabloid hacked into cell phones of victims ranging from missing persons, celebrities, and politicians. Zuckerman told David, "It took a lot of guts to do it. He was tough enough to do it, and I really respect him for doing that."

Watch David's full conversation with Mort Zuckerman to hear his recommendations on how to fix the economy and create more jobs in the US.