Fiscal Cliff Explained - KATV - Breaking News, Weather and Razorback Sports

Fiscal Cliff Explained

Posted: Updated:

WASHINGTON (CNN) - President Obama and Congress have just three weeks left to find a way to walk the country back from the looming fiscal cliff and with private talks underway, it's hard to know whether any progress is being made.

Watch the attached video to see CNN's Tom Foreman break down what's on the table and the balancing act at stake. Click here if you can't see the video.

  • PoliticalMore>>

  • Obama offering Japan security, economic assurances

    Obama offering Japan security, economic assurances

    Wednesday, April 23 2014 10:34 PM EDT2014-04-24 02:34:31 GMT
    President Barack Obama is opening a four-country visit to the Asia-Pacific region in Japan, but the West's dispute with Russia over Ukraine is looming.More >>
    President Barack Obama is seeking to reassure Japanese leaders Thursday that he can deliver on his security and economic pledges to Asia even as the crisis in Ukraine demands U.S. attention and resources elsewhere.More >>
  • Hillary Clinton calls for more sanctions on Russia

    Hillary Clinton calls for more sanctions on Russia

    Wednesday, April 23 2014 10:25 PM EDT2014-04-24 02:25:28 GMT
    Hillary Rodham Clinton is daring women to compete, but not saying whether she will herself in 2016.More >>
    Hillary Rodham Clinton said Wednesday she believes the outcome of the standoff in Ukraine will be a bad one for Russia.More >>
  • US weighs clemency for inmates jailed for 10 years

    US weighs clemency for inmates jailed for 10 years

    Wednesday, April 23 2014 9:55 PM EDT2014-04-24 01:55:35 GMT
    The Justice Department will begin considering clemency applications from nonviolent federal inmates who have already served 10 years or more in prison.More >>
    The Obama administration is encouraging many nonviolent federal prisoners to apply for early release - and expecting thousands to take up the offer. It's an effort to deal with high costs and overcrowding in prisons,...More >>