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Higher taxes, deep spending cuts on the way

Dec. 27: As the bickering over the 'fiscal cliff' continues, it becomes increasingly unlikely that lawmakers will arrive at a deal that avoids the financial repercussions of the tax cuts and breaks enacted under George W. Bush. NBC's Kelly O'Donnell reports.  (Nightly News)As the bickering over the 'fiscal cliff' continues, it becomes increasingly unlikely that lawmakers will arrive at a deal that avoids the financial repercussions of the tax cuts and breaks enacted under George W. Bush. NBC's Kelly O'Donnell reports. (Nightly News)




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