Under fire from Republicans, U.S. Ambassador to the United Nations Susan Rice took herself out of the running to become the next secretary of State. Rice told President Obama that if she were to be nominated, the confirmation process would be "lengthy, disruptive and costly."
The Consumer Price Index is one of the most familiar measures in economics and politics. Some in Washington want to change the way the index is calculated to better reflect consumers' shopping habits. While the proposed change is described as a technical fix, it could cut the federal deficit by hundreds of billions of dollars over the next decade.
As the negotiations drag on, the lack of progress means the key players have necessarily taken to repeating themselves. Sometimes, word-for-word, as they describe how they have worked for a solution while their opponents have stonewalled.
With U.N. Ambassador Susan Rice withdrawing her name from secretary of state consideration Thursday, attention turned to Sen. John Kerry, D-Mass., as a possible successor to Hillary Clinton. And that would have repercussions on Capitol Hill and in Massachusetts.
President Obama hosted House Speaker John Boehner Thursday, spending nearly an hour together in which they discussed ways to avert the looming "fiscal cliff" of spending cuts and tax hikes that will arrive at the end of 2012. Boehner left the White House at 6 p.m., apparently without reaching a deal.
The budget cuts set to take effect Jan. 1 were designed to be so draconian that they would force a long-term deal to trim the federal deficit. Scott Horsley talks to Robert Siegel about what budget cuts are likely to remain or be added in a deal to avert the fiscal cliff.
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