Fiscal Cliff Negotiations Expected to Continue After Thanksgiving Break

George Stephanopoulos discusses the upcoming agenda of the returning congress.
2:54 | 11/25/12

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Transcript for Fiscal Cliff Negotiations Expected to Continue After Thanksgiving Break
Congress gets back to business tomorrow after its week long thanksgiving holiday. At the top of its agenda resuming talks with president obama to keep the country from flu jing off the fiscal cliff. Let's bring in george stephanopoulos. Congress has gone home to the districts, any optimism that cooler heads will prevail and we'll see movement toward a deal quickly? There are only five weeks left. Everything has to happen before DECEMBER 31st. The president has had his first meetings with the top congressional leaders. There's a fair amount of optimism that something will get done before the end of the year. Maybe a down payment on deficit reduction combined with a commitment to hit the big numbers. In addition to the fiscal cliff, some big vacancies coming up in the president's cabinet the state department, the treasury, even the cia, the general petraeus scandal, three vacancies now. And there's likely to be more shuffling in the president's cabinet. The president has signaled is favorite likely to be u.N. Ambassador susan rice for secretary of state, she's faced a lot of opposition in house this week, republicans signed a letter not to appoint susan rice. The president hasn't made a final decision yet. If he went for it, despite this controversy over benghazi, he would get her through the senate. The top guy to replace timothy geithner, is jack lew. Slightly less serious note we would like to hit, apparently some head shaving on the broadcast this morning. The first on "this week." This is a great story. The top spokesman for both of the democrats and republicans, whoever lost the election would shave their head. This is sean spicer was supposed to shave his head. The rnc spokesperson. Jon karl is doing the honors. He has no credentials. Let's see how he does. This is all for a good cause, st. Baldrick's foundation, for kids with cancer. All right, george, great to see you and george has a big show this morning, actor/director ben affleck will

This transcript has been automatically generated and may not be 100% accurate.

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