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Im wolf blitzer. Youre in the situation room. We begin with the looming tax hikes. All of us are facing a little over three weeks. Those increases coupled with spending cuts in vital programs including defense, health care and Housing Assistance are being called the fiscal cliff. The only way to i void it is for president obama and congress to make a deal, cutting spending and raising revenue. Adding to the sense of urgency. News that 350,000 people simply gave up looking for work in the month of november. And while that drove the Unemployment Rate down to 7. 7 , the fiscal cuts and tax hikes are expected to dramatically slow job creation and increase unemployment possibly plunging the economy back into a recession. Lets go to dana joining us from capitol hill. The latest negotiations dont seem to be going anywhere. They sure dont. The House Speaker ended the week by calling it a wasted week. He only had one phone call with the president of the United States and he said it was just, mo

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