GOP spending cuts tanking the economy?

The Commerce Department reported that the U.S. economy shrank for the first time since the early part of President Obama’s first term. While some economists are calling it the “best-looking contraction in GDP you’ll ever see,” the White House is blaming it on political scenarios of dramatic uncertainty. Time Magazine’s Rana Foroohar and CNBC’s Eamon Javers join Alex Wagner and the NOW panel.