First Word: Fiscal cliff takes center stage after Obama win

Updated
The Obama family boarding Air Force One in Chicago, traveling back to Washington, D.C. the day after the election.
The Obama family boarding Air Force One in Chicago, traveling back to Washington, D.C. the day after the election.
Jewel Samad/Getty Images

President Obama won a historic bid for re-election last night, but the celebrations may already be over. He has less than two months to resolve a $600 billion fiscal cliff which threatens to nosedive the economy back into a recession. Republicans continue to assess the damage and reflect on its long-term future. (Hint: it’s missing diversity.) Here’s a look at the headlines shaping tonight’s rundown:

First Word: Fiscal cliff takes center stage after Obama win

Updated