President Obama is now calling for a balanced approach to reducing the nation's massive debt. But Republicans, like U.S. Representative Paul Ryan, say we need much more drastic measures, including privatizing Medicare and handing Medicaid over to the states. How important is it that we get the debt under control? And are cuts the only way to get there? What about higher taxes?

Guests:

Mark Votruba, Associate Professor of Economics, Case Western Reserve University

Jason Johnson, Professor Political Science, Hiram College

Stephen Koff, Washington Bureau Chief , The Plain Dealer