1. Bully Pulpit

    Obama Threatens Veto

    WASHINGTON, DC - NOVEMBER 18:  Senate Finance Committee Chairman Max Baucus (D-MT) (C) is surrounded by reporters after leaving a meeting with fellow members of the Joint Select Committee on Deficit Reduction, or "Supercommittee," in the U.S. Capitol November 18, 2011 in Washington, DC. With the deadline just five days away, members of the supercommittee are meeting in a frantic effort to reach a deal.  (Photo by Chip Somodevilla/Getty Images)

    Chip Somodevilla / Getty Images

    President Obama threatened to veto any changes to the automatic spending cuts that are scheduled to take effect in 2013 if Congress is unable to come up with other ways to reduce government deficits. Obama said the automatic cuts should remain in place in order to add pressure and get results. The threat came just hours after supercommittee co-chairs Jeb Hensarling and Patty Murray released a statement, saying deficit talks were dead. "It will not be possible to make any bipartisan agreement available to the public before the committee's deadline," the statement reads. The Dow Jones industrial average took a big hit Monday, sliding nearly 250 points, or about 2 percent, on news that Congress’s supercommittee on deficit reduction would announce its failure.

    Read it at The Associated Press