ticking clock. troubling signals overnight from the congressional super committee charged with cutting $1.2 trillion from the nation's budget. there's only one week left before severe mandatory cuts kick in if they don't come to an agreement. secretary panetta saying those would result in the u.s. armed forces becoming a paper tiger. tracie potts has the details live for us this morning. it looks like gimmicks are the big talk. >> reporter: well, you know, you were talking about the defense department. actually half of those cuts, if those automatic cuts kick in, would come from the defense department. that's why they're concerned. democrats and republicans with the same arguments. at this point majority leader harry reid on the democrat side, the senate side, is saying doesn't look like much compromise here. democrats with the same argument from last spring. republicans fear bringing in more revenue is a code word for raising tacks. they want to lower tax rates and