So, I bought an external drive thinking that perhaps my drive or connection had gone bad. The new external drive that I bought is a HP DVD Writer 940d USB Device (also a plug and play). I followed the directions plugged in the USB and then the power cord, the same thing happened the bubble popped up at the bottom of the screen saying there was a problem installing the new device and that it would not work properly.
When I went to Device Manager both drives have the yellow exclamation point next to them. I again have restarted the computer several times after uninstalling both drives and the same thing keeps happening. I have installed other devices (HP printer and HP scanner, both USB) prior to this happening and those devices work properly.
If anyone has any suggestions I would greatly appreciate the help. I have another problem with another computer but I will save that until I resolve this issue.