Blankfein, Simpson & Bowles on the Record

Lloyd Blankfein, Goldman Sachs CEO & chairman, says the U.S. is in the best competitive place in the world. Meanwhile Erskine Bowles, Deficit Commission, says if no action on the fiscal cliff is taken, the jobless rate will rise above 8 percent. Alan Simpson, Deficit Commission, also weighs in on the U.S.' tipping point, with CNBC's Steve Liesman.