Fiscal Cliff Debate Continues

Washington continues to teeter on the edge of the so-called "fiscal cliff," as leaders fail to find a resolution.

House republicans will take action on the floor today. That includes voting on the speaker's so-called 'plan B' that would renew tax breaks for anyone making less than one million dollars a year.

"The president will have a decision to make," says House Republican Majority leader John Boehner, "He can call on the Senate Democrats to pass that bill or he can be responsible for the largest tax increase in American history."

The White House only wants tax breaks for those making less than $400,000 a year.

The president is also criticizing Boehner's plan for not addressing painful spending cuts or expiring unemployment insurance that would cause two million people to lose benefits.

"It actually means a tax increase for millions of working families across the country," says Obama, "at the same time as folks like me would be getting a tax break. That violates the core principles that were debated during the course of this election."