On Friday, we heard the National Rifle Association's CEO Wayne LaPierre addressing the tragedy in Newtown, Connecticut in an unprecedented press conference. Last week's tragedy has dominated this week's headlines, and for good reason. Pres. Obama has pushed gun regulation to the top of his legislative agenda. Vice Pres. Joe Biden is heading up a task force to see it gets done.

Meanwhile, Pres. Obama and House Speaker John Boehner have tangled over how to resolve the budget crisis. Boehner reiterated his commitment to the process today, even as his so-called "Plan B" proposal landed with a thud. Time is running out for all sides.

Finally, Sen. John Kerry was expected to be tapped for Sec. of State, a position Kerry has long coveted. The move could trigger a temporary appointment by Gov. Patrick, followed by a special election in June to fill the seat.

Emily Rooney was joined by three regular panelists for a busy Week in Review.