The Congressional supercommittee failed this week to produce a plan to reduce the deficit, but what does this failure mean for America? The Nation’s editor and publisher Katrina vanden Heuvel appeared on MSNBC with the Financial Times’s Gillian Tett, the New York Daily News’s Mort Zuckerman and MSNBC contributor Imogen Lloyd Webber to tackle the supercommittee debacle. “No deal is better than a bad deal,” vanden Heuvel argues. 

—Jin Zhao