Were already in december. Welcome to the weekend. Were really excited here this morning. Identify been looking forward to this literally for months. We have a legendary chef withs Thomas Keller one of the countrys premier chefs and hell share i had ultimate dish. Well eat. Well chat. Im certain were going to enjoy it and i hope you too. I literally have been looking forward to this for months. We got some great sounds. Five guys from utah who call themselves the piano guys, already a huge hit on the internet. They had 185 million hits on youtube and they will play for us this morning. We begin this morning with the socalled fiscal cliff one from today unless washington gets its act together 90 of americans will see their taxes rise as a series of tax increase and spending cuts take effect. Yet negotiations between the white house and Congressional Republicans are at a standstill. Anna werner is in our washington bureau. Good morning. Reporter good morning. Unless Congress Comes to an agreement on the fiscal cliff it would mean a tax hike plus some 65 billion would be cut from the pentagon and other government agencies. Both sides are hoping for a compromise. But so far all theres been is debate. Ive been keeping my own naughty and nice list for washington. Reporter president obama took his fight to the public while visiting a toy company in pennsylvania where he warned republicans not to play scrooge. Its not acceptable to me and i dont think its acceptable for you for a handful of republicans to hold middle class tax cuts held hostage. Reporter the white house proposal includes 4 trillion in deficit reduction, 400 billion in cuts to entitlement and 50 billion in infrastructure. John boehner said the proposal doesnt go far enough. Theres a stalemate. Lets not kid ourselves. Reporter congressman eric cantor agrees. That offer is not a serious offer. They are asking for 1. 6 trillion in tax hikes and nowhere near that number in spending reform. Reporter House Minority leader nancy pelosi says any delay in a compromise is harmful to consumers and the market. The country cannot afford nor should we even think in terms of stalemate. Reporter pelosi is pushing gop leaders for a vote to extend middle class tax cuts. The senate has approved the extension but republicans object and instead want all of the bush era tax cuts to be extended including those covering people making over 250,000 a year. Anthony . Anna werner. Thanks. For more on the consequences of the fiscal cliff were joined by Robert Greenstein the founder and president of Budget Priorities which analyzes proposed budgets and tax policies with particular emphasis on lowincome american. Hes in our washington bureau. Good morning. Good morning. To begin with you heard Speaker Boehner say were at a stalemate. Do you think a deal will get done here in time. I think a deal will definitely get done but im not sure it will be by january 1st. They may need to go into january and have the intense pressure for markets and others that puts on the policymakers to get a deal maybe the first, second or third week in january. Now the only thing to say there is the adverse effects on the economy if we dont get a deal build and really take several months to take full effect. While we want a deal by january 1st if they get a deal pretty quickly then in january and make it retroactive to january 1st which i think they do then the economy is still okay. The big problem is if we go months with no deal. All the ceos i talk to say theres already an impact. Theres uncertainty. They are not hiring. I heard from a number of retailers who say if we dont have a deal by december 14th this will not be a happy holiday for us. If things do go over the cliff, robert what happens and how significant is that going to be on the economy in the immediate term . Well actually we probably are having a modest effect now and its not like it suddenly becomes dramatic on january 1st. It just gradually gets bigger over time. And we really have two issues threatening the economy. The fiscal cliff on january 1st isnt the only one. About two months after that we hit the debt limit again. The debt limit is different. If the United States defaults on its obligations for the first time in the history of the republic, theres permanent serious damage to the u. S. Dollar, to our currency to our place in the world my. This is why i know the president , his last offer urged that we resolve both the fiscal cliff and the debt limit at the same time. What we dont want to do is go the brink on the economy now and then threaten the economy again two months later. We have to deal with both problems together in the weeks ahead for the good of the economy. Theres a cumulative psychological effect. If we dont deal with it quickly it builds. As you pointed out its already starting . I think theres a modest effect so far. I dont think its dramatic. Its incremental. The closer you get the bigger it gets and then it gets somewhat more serious after january 1st. The other side of the coin i wish this werent so but to get movement, particularly on the republican side or on the tax cuts for very high end people which average, this is an average tax cut of 130,000 a year for people that make over a million a year in my view we cant afford that. To get that kind of movement we might actually need to go into early january, maybe the stock market fluctuates a bit, theres great concern if its a big story in the media now its an even bigger story. That could occur. I remember in 95 there was an impasse and the government shut down. Newt gingrich and bill clinton the pressure was so intense there was a settlement in two to three weeks. If we go into january it will be less than two or three weeks. Thanks so much for being with us this morning. Speaking of consequences what might be the political consequences if washington fails to stay clear of the fiscal cliff. Cbs news political director John Dickerson is here with some thoughts on that. John, good morning. So all of this posturing, to what degree is this this is how the sausage gets made versus this is a legitimate stalemate . Well its kind of both at the same time. They are both posturing because both knows to get a deal they want to basically express the most extreme versions of their positions because they know they have to carve away at it they are speaking to boston their bases. On the other hand theres still a Sticking Point at the center of this. If you clear away everything and look at the tax rates the president says tax rates have to go up on the wealthy by some amount. Republicans are saying no we wont have any vote to raise tax rates and thats an impasse we dont see how we get around that. The president is embolden by his alexandria victory. Hes taking it out to folks out on the street. Hes acting like he feels he has a mandate to ask for these tax increase. Do you think thats going to work . He thinks he has a mandate and if we go over the cliff the republicans will be blamed. He thinks the pressure of that will get the republicans to buckle. The tax rates will go up the easy way or the hard way. Will it work . We have to guess at the Public Opinion. Right now Public Opinion is on the president s side but thats in the abstract. If we see economic effects that affect real people we dont know how that ball bounces. I wonder if going over the cliff gives some political cover for politicians to compromise down the road . It gives cover and pressure. Cover is a give. With republicans all of a sudden taxes would go up on everyone so they would then be voting on tax cuts and that want does change some because in the Republican Party voting for tax increases is sort of a death blow. But after the fiscal cliff happens january 1st tax rates go up on everyone so the solution would be vote are for a serious of tax cause. I think whats disturbing here youre hearing the same tone creep back in the conversation that we heard before. Do you think its different this time . Its identical. I feel like im going through this horrible deja vu. This is the fifth time weve been through this. The posturing is the same. The claims of bad faith are the same. Then on both sides you have liberals and conservatives, Newt Gingrich making the case this whole cliff thing was a creation of the other side. You have a group denying this central debate is really worth having right now. None of this feels were inching towards a deal. Looking backwards instead of forward. For waterlogged californians this is the calm between the storm. Much of the state has been battered by two storms that brought torrential rains, mudslides and flash flooding and storm number three is on its way. Carter evans has the latest. Reporter as the powerful winter storm moved across the west nevada residents stacked sand bags to protect their homes from the swollen river. They are calling to it be in flood stage by sunday. Reporter in california the storm knocked down trees in san francisco, sent waves crashing in san diego and flooded homes near sacramento. Drains couldnt handle the amount of water. Reporter more rain is on the way. Bad news for people with no place to go. How are you guys going . Reporter this sister is offering a shelter. They help about 1,000 people a day with rain gear and dry clothes. Were caught in an emergency situation. The rivers are high. They are flooding. Many of our homeless guests are camped out. Reporter the Organization Provides some shelter during the day but the gates close before dark. That could mean another rainy night in the car. When youre in the car and the windows are fogging up and you look out at the rain wishing i had an apartment. Especially for my baby. Reporter they will have to hang on a little longer. The storm is expected to dump up to six more inches of rain across the state by monday morning. For cbs this Morning Saturday carter evans, sacramento. Earlier this year gasoline reached its highest price ever in this country and the shortages in the northeast brought on by Superstorm Sandy made matters far worse. Prices are now Getting Better but heating your home will be a far different story. Here to break it down is chief oil analyst for the Oil Price Information service and its great to have you with us. Whats driving oil down . Mostly the fact that refineries are back and running and price of north american crude is much cheaper than the rest of the world right now. Well be the beneficiaries of that for a while. And were not using as much gasoline this time of year. As you go into the winter demand sinks. Well be about 1 or 2 behind last year. Tom, we saw enormous disruptions in the northeast for a period of a couple of weeks at least. Are things starting to get back to normal yeah. They are getting back normal. Theres a change. The northeast will be more expensive than other parts of the country. Were seeing less than 3 in the lower midwest and the southeast, but generally theres plenty of profits to be made. Refiners are running hard and lots of crude. We never had more crude at this time of year than we have right now. Huge amounts of crude. But heating oil is expected to climb as temperatures get colder. Yeah. Theres good news for gasoline in the next 60 days but bad news for heating oil. Heating oil prices are probably about 4 at retail. May go higher. Could spike to 5. We got the lowest inventories in 50 years because this is the monthlecule thats attractive that middle molecule heating oil and diesel. Something International Coming out of the supply. If you look at it gross product in the last ten years has been diesel or heating oil. Diesel is a u. S. Think. Diesel prices are creeping up. If you dont use diesel will it affect you. It will. Everything you buy gets moved by diesel. It can go significantly higher and infiltrate inflation. Now a Missouri Family who is not concerned about inflation. Mark and cindy hill held one of the two Winning Tickets in this weeks powerball jackpot. They and as of outan unidentified Ticket Holder in arizona are splitting the prize. Dean reynolds has their story. Reporter 136. 5 million gives new meaning to the words lump sum and thats how the hill family of dearborn missouri will collect their record winnings after taxes. Cindy hill bought the Winning Ticket on wednesday and then left the precious paper in her car overnight. People keep asking us what will you buy. I havent even thought about that. I just want to go home and just be back to normal. Reporter at a News Conference she spoke of a Family Vacation donations to charity, a pony for her 6yearold daughter and maybe a red camero for her husband mark. Have you worked your last day at your job . Yes. Reporter 28yearold son jason described getting the news. My dad called me about 8 30 in the morning and it was almost noon before i moved again. I sat there in disbelief. Reporter 30yearold cody was told to keep it to himself. I go to work and everybody is talking about it. Somebody from here won. I go you dont say. Wow. I bet those people are pretty happy right now. Reporter the hills do not intend to move. In fact they do not intend to change. As cindy hill put it were just normal human beings. Were as common as anybody. We just have a little bit more money. For cbs this Morning SaturdayDean Reynolds chicago. You dont say. Sweet story. Now we want to turn to egypt and the latest chapter in that countrys year long struggle for democracy. There have been days of angry street protests against islamist president Mohamed Morsis attempt to seize almost total power. But today the Muslim Brotherhood the movement that supports morsi is responding by summoning what they describe as a million man march in cairo and Holly Williams is there. Holly, good morning. Reporter good morning. Well thousands of president morsis supporters have taken to the streets today. But it follows days of protests by his opponents who accuse the president of behaving like a dictator. On Tahrir Square in cairo yesterday tens of thousands of protesters converged again. Their outrage is directed at president Mohamed Morsi and his islamist allies who dominant the panel who wrote the draft of egypts new constitution. It can be put to a referendum before the end the year. The draft constitution gives islamic sharia law a bigger role and empowers the state to protect morals and values but there are few details on what that means. And a clause that specifically guarantees equality for women were removed. This is a blogger who believes the draft constitution could be used to violate her rights. You have no right to tell me,000 live my life. 000 dress, how to cook. This is what they did in the constitution. Reporter on Tahrir Square egyptians from many walks of life agree with her. This is an ultraconservative muslim. He told us that if egyptians want democracy the constitution should represent all segments of society not just the islamists. Egypts revolution of two years ago was supposed to mark the birth of a new democracy, but some here now fear that one group of egyptians is trying to impose their own views on everyone else. I wonder to what degree president morsi is making a political gamble. Hes betting the majority of egyptians will vote for this constitution and if hes right he will tighten his grip on power. But if president morsi is wrong, if egyptians reject this constitution then they are rejecting the president s islamist vision for egypt. Holly, how likely is it that this draft document actually becomes the constitution . Reporter well we may month in 15 days when its put to a referendum. Its worth bearing in mind when he won the president ial election mr. Morsi did so with a majority of less than 52 . Does it took like theres any end to this standoff in sight . Reporter well opponents say they will keep protesting until he rescinds the extra powers he gave himself last week and some i was speaking to yesterday said they would do anything they could to disrupt this referendum thats coming up before the end of the year. Holly williams in cairo. Thank you. Heavy fighting is reported this morning between Syrian Rebels and Government Forces near airport in damascus the capital. Syrian jets also bombed rebel held position in damascus. The airport is open but International Flights are being diverted. For the second consecutive day most internet and Telephone Service is down throughout syria. Both sides blame each other for the outage 20 lebanese fighting with the rebels were killed inside syria on friday raising concerns about a widening conflict. The fbi on friday said they arrested two brothers in south florida and charged them with a plot to detonate a weapon of mass destruction in the United States. The two men arrested are u. S. Citizens. The plot began in july of 2011 and Law Enforcement is actively pursuing leads that could lead to further arrests. Meet the latest addition to the oregon zoo in portland. The 300 pound calf was born on friday. The zoo officials are asking the public for names. Zoo officials both mother and baby girl are doing just fine. And its about 21 after the hour. Time for lonnie and our first check of the weather. That was all covered in the saw dust. How about dusty. I like dusty. I like the picture im seeing across the country because theres only three areas with disturbed weather. A lot of nice weather out there. We heard from carter evans whats taking place out west. This is a huge storm. What you didnt hear is theres potential for this storm to set a single event snowfall record. The possibility over four days that this system around mo