America's debt battle

Goldman Sachs CEO: Fiscal cliff a test of trust for U.S. investors

Lloyd Blankfein says going over fiscal cliff would shake confidence in investing in the United States

D.C.'s next battle: The debt ceiling

No sooner did the "fiscal cliff" confrontation come to an end that the stage was set for the next partisan battle over the country's financial future. Major Garrett reports on the looming debt ceiling standoff.

Truce made in debt limit battle

There's a truce in the battle over the debt limit. The House passed a bill that buys the country another four months before it risks default, but the measure forces the Senate to do something it hasn't done in nearly four years - pass a budget. Randall Pinkston reports.

Ryan floats short-term debt limit increase idea

Budget Committee chairman Paul Ryan says it would allow more time for Republicans to work on spending cuts with Democrats

Fitch warns of U.S. credit rating downgrade

Leading rating agency says battle over hiking debt ceiling lid jeopardizing triple-A rating

Pentagon preps hiring freeze, contract delays, just in case

Def. Sec. Leon Panetta warns: "Fiscal uncertainty has become a serious threat to our national security"

"Cliff" deal loaded with special interest tax breaks

The "fiscal cliff" law is full of special interest tax breaks, which add $74 billion in spending. Wyatt Andrews takes a look at some of the new deductions and why they're part of the bill.

Senate quiet as leaders work on "cliff" deal

The Senate is quiet as its two leaders - Harry Reid and Mitch McConnell - work behind the scenes on a "fiscal cliff" deal. As Wyatt Andrews reports, they're trying to find a compromise plan to present to the full Senate within a day.

Sen. McConnell "hopeful," "optimistic" on "cliff" deal

For the first time, Senate Minority Leader Mitch McConnell described himself as "hopeful" and "optimistic" for a deal to avert the "fiscal cliff." Nancy Cordes reports on the potential breakthrough and what to expect going forward.

Obama "modestly optimistic" on "fiscal cliff" deal

Considering the tenor of recent "fiscal cliff" talks, President Obama's modest optimism for a deal sounds like real progress. But, as Major Garrett reports, if Senate leaders don't come up with a deal, the president has his own "Plan B."

Going over the "estate cliff"

The "fiscal cliff" could have serious repercussions for the nation, including when it comes to property ownership. As John Blackstone reports, the federal estate tax would rise from 35 to 55 percent if a budget deal isn't reached by Congress over the next several days.

"Plan B" vote backfires on Boehner

In a risky move, Speaker John Boehner tried to get the House to pass his "Plan B" "fiscal cliff" bill. But the plan backfired when he didn't have enough votes, reports Nancy Cordes. The move was intended to give him leverage with President Obama, and instead left him weaker.

No Christmas miracle on "fiscal cliff"

With no deal in sight to prevent the looming "fiscal cliff," Washington has left for Christmas break. Major Garrett reports on Speaker Boehner's ill-fated "Plan B," and the president's "hopeless" optimism.

House votes on Boehner's "Plan B"

As the House votes for Speaker Boehner's "Plan B" to avoid the "fiscal cliff," options for passing a deal before Christmas are slipping away. Nancy Cordes reports.

"Fiscal cliff" talks could be in trouble

Top aides on both sides of debt negotiations tell CBS News the talks, which were moving so quickly, have slowed to a crawl. The House speaker and President Obama traded ultimatums, which as Nancy Cordes reports, is never a good sign this close to a deadline.

Obama on GOP: It is very hard for them to say yes to me

President Obama answered questions about his negotiations with Congressional Republicans over solving the country's deficit and reaching a deal to avoid going over the "fiscal cliff." Mr. Obama claimed, "they keep on finding ways to say no as opposed to finding ways to say yes."