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What the heck is the fiscal cliff?

If Congress doesn't act by the beginning of next year, the combined effects of budget cuts and tax increases could damage the economy.

Business News Videos
  • Brazil's toxic economy 

    Brazil has been battered by bad news on all fronts: a toxic mudslide after dams broke at an iron ore mine; major arrests in the ongoing bribery scandal at the state run oil company Petrobras; and now third quarter GDP figures show the economic recession is far from over.

  • What does Planned Parenthood do? 

    CNN's Elizabeth Cohen looks at the history of Planned Parenthood, and the controversy surrounding the organization's funding.

  • The priest saving LA's gang members 

    For thirty years, Father Greg Boyle has been turning around the lives of gang members and helping them find hope and jobs through Homeboy Industries.

  • Kobe Bryant announces he will retire 

    NBA star Kobe Bryant announces he will retire after the current season, ending his 20-year career with the Los Angeles Lakers.

  • The hottest toys of Christmas past 

    See shoppers go crazy over Cabbage Patch dolls, Nintendo Game Boys and virtual reality pets. What will the hot toy be this Christmas?

  • Bill Gates to launch clean energy initiative 

    The Microsoft founder is set to announce the Breakthrough Energy Coalition alongside President Obama and French President Francois Hollande at the climate change summit in Paris.

  • The best (or worst) brawls of Black Friday 2015 

    Black Friday is marked by mega discounts, huge profits -- and brawls. Here are some of the craziest fights from the biggest holiday shopping day of the year.

  • Black Friday: The UK backlash 

    Black Friday has become an increasingly international shopping phenomenon, but this year it's facing a backlash from British retailers, politicians and the police.

  • Black Friday madness turns violent 

    Americans are expected to spend an average of $369 each this Black Friday weekend -- and some shoppers are willing to fight for the best deals. CNNMoney's Cristina Alesci reports.