Tax increases are only a part of what lies ahead if Congress can't come to an agreement to avert the fiscal cliff by the new year. Massive spending cuts will also kick in — and those cuts will be felt throughout the economy.
The current stalemate got under way two years ago when Congress, locked in a bitter partisan battle over whether to extend the George W. Bush-era tax cuts, passed what was known as the Budget Control Act of 2011.
Billions in damages and not enough in the bank account — that's where federal officials find themselves in the aftermath of Hurricane Sandy.
The White House says it will send an emergency funding request to Capitol Hill this week — expected to be $50 billion to $60 billion. Top administrators told Congress on Wednesday that they want at least some of that money to go toward preventing the kind of devastation caused by Sandy and other recent storms.
Are we seeing the endgame to the conflict in Syria? Melissa Block talks with Andrew Tabler, a senior fellow at The Washington Institute for Near East Policy and author of the book, In the Lion's Den: An Eyewitness Account of Washington's Battle with Syria. We ask Tabler about what the collapse of the Bashar Assad regime might look like and the possibility that government forces could use chemical weapons.
Many conservative faith leaders are among those calling for immigration reform. They joined government leaders on Wednesday in Washington, D.C., to map out what that reform could look like, calling it a moral as well as economic issue.