Fiscal Cliff Talks Stall

Where's the spending cut plan?

Bipartisan optimism gave way to a partisan reality on Capitol Hill as congressional leaders acknowledged Thursday that little progress as been made with the White House to reach a deal to avert the "fiscal cliff" coming at year's end when all of the Bush era tax cuts will expire and billions in automatic spending cuts are triggered.

"I've got to tell you that I'm disappointed in where we are and disappointed in what's happened over the last couple of weeks," said House Speaker John Boehner, R-Ohio, who told reporters "no substantive progress has been made in the talks between the White House and the House over the last two weeks."