Fiscal cliff deadline is a month away, but Republicans and Democrats are blaming each other for the inability to get a deal done that would prevent automatic spending cuts. The uncertainlty over the fiscal cliff talks is already having a financial impact, sending the stock market on a roller coaster ride.
On Tuesday, U.S. United Nations Ambassador Susan Rice met with Republican senators who have accused her of misleading the public following the attack on the US Embassy in Benghazi. The White House is searching for a replacement for Hillary Clinton, who plans to leave her job as secretary of state in January.
The political and economic ramifications are too big for Washington to let the large tax increases and spending cuts take effect. But this doesn't necessarily mean lawmakers will craft a decisive solution to the nation's fiscal woes.