"Cliff" spending cuts on hold

January 2, 2013 4:22 PM

The "fiscal cliff" has been averted, thanks to a deal passed by Congress. But, as Nancy Cordes reports, the spending cuts that were supposed to be a part of it, have been put off for two months -- setting the stage for another spending fight.

"Fiscal cliff" averted -- now what?
  • Recommended
  • Victim of Bangladesh factory collapse shares story Victim of Bangladesh factory collapse shares story

    4:28 May 23, 2013

  • Teacher injured in Okla. tornado takes first steps Teacher injured in Okla. tornado takes first steps

    1:57 May 23, 2013

  • Boy Scout leaders vote to lift ban on gay members Boy Scout leaders vote to lift ban on gay members

    1:48 May 23, 2013

  • Resentment over wars may have motivated London terror attack Resentment over wars may have motivated London terror attack

    1:21 May 23, 2013

  • U.S. drone strikes spark anger in Pakistan U.S. drone strikes spark anger in Pakistan

    1:58 May 23, 2013

  • President Obama defends drone strikes President Obama defends drone strikes

    2:21 May 23, 2013

  • Injured Okla. teacher: Injured Okla. teacher: "I wish I could have done more"

    4:51 May 23, 2013