The president is back in Washington today to deal with the fiscal cliff. A long-term deal is unlikely at this late date, but the hope is lawmakers can find a stopgap solution to prevent higher taxes and big spending cuts. How does the general public feel about the situation? Fresh numbers on new home sales come out later this morning. Lately they’ve risen to levels not seen since 2010. And in Baltimore, a holiday icon may shine no more.

Retailers hope shoppers spend some money this week as the holiday season has, so far, fallen short of expectations. A number of smaller issues are tied up in the fiscal cliff debate, and among them is a tax credit for wind power. If it expires at the end of the year, the budding industry might go bust. And, the unusual history of the borrowing limit that keeps coming back to haunt our politics.

Today millions will unwrap gifts they just don’t want and stores are prepped for the wave of returns. Each year on Christmas, Queen Elizabeth delivers a Christmas message to her subjects. This year, something new, the message will be in 3D. And we bring you an international quiz to test your knowledge of global equality.

Flying may have lost its glamour, but Delta has at least 22,000 applicants for 400 flight attendant openings. President Obama and lawmakers have left Washington for Christmas. But with no deal on the fiscal cliff, it’s a working holiday. And at Oyler School in Cincinnati, Ohio, poverty may be the rule the rest of the year, but donations help make the holidays special.

In a Washington surprise, “Plan B” — a temporary solution to the fiscal cliff problem — failed last night, after House Speaker John Boehner could not muster the support in his own party to pass it. Another end-of-year deadline that could cause some economic trouble: The Longshoremen’s Union is in heated contract negotiations with 14 ports along the East coast and the Gulf coast, and if an agreement isn’t reached by December 30th, there could be another big port strike. And in Greece, two soccer teams are so cash-strapped they are turning to some unusual sponsors to make ends meet.

Vice President Joe Biden is meeting with law enforcement officers today to come up with ways to stop gun violence. The vice president has been asked to offer some recommendations to President Obama by late January. So what do the American people think should be done? As we approach the fiscal cliff, much of the attention in Washington has been on income tax rates. But there’s another tax that’s likely to rise whether we go over the cliff or not: the tax on capital gains. Plus, a fight that’s going on over a card game.

The online photo sharing site Instagram made a lot of its users angry this week with a change to its terms and conditions. The site announced that it might use some people’s photos in advertisments, and that started an uproar. In Newtown, Connecticut, local businesses are taking on new importance in the wake of the tragic school shooting last week. And, the Census Bureau is trying something new that could let you void a knock on your door from one of its workers.

Forget the fiscal cliff, the European debt crisis and the slowdown in China. Carmakers are on track for a record year, led by sales right here in the U.S. There are reports that a deal is close between Google and the Federal Trade Commission. The settlement would end a two-year investigation into whether Google unfairly uses its dominance of search to steer customers to other Google businesses. Plus, why it turns out one of the big challenges when making the world’s biggest skyscrapers is the elevator.

In Japan, newly-elected Prime Minister Shinzo Abe faces the tasks of reviving the country’s economy and handling strained relations with China. A new student debt program, known as ‘Pay As You Earn’, could make monthly payments smaller, and some debts disappear altogether. Italian Finance Minister Vittorio Grilli shares his views on Italy’s economic challenges and the country’s political future.