If President Obama and Congress can't make a deal this month, the economy could fall into recession while tax bills go up for nearly every American. On the other hand, it would do a lot to erase the nation's deficit.
Farmers in the communist nation were once banned from freely selling their crops. As the country struggles to feed itself, the government has begun to accept a greater role for the profit motive. Now each night, in a muddy vacant lot on the edge of Havana, a market appears after sundown.
Countries attending U.N. climate talks were not able to come up with any major agreements on reducing carbon emissions and slowing global warming. This comes after the World Bank issued a report predicting global temperatures could rise by 7.2 degrees Fahrenheit by the end of the century — possibly sooner if current promises to curb emission are not kept. Renee Montagne talks about this with World Bank President Jim Yong Kim.
Consumers are feeling positive, but the mood among business owners is at recession levels. A third of businesses in a recent survey said they plan to cut back on spending in the next year; 1 in 5 say they'll reduce staff. A big reason is the uncertainty caused by looming federal fiscal decisions.
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