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RENEE MONTAGNE, HOST:

It's MORNING EDITION from NPR News. I'm Renee Montagne.

With the election settled, Washington, Wall Street and much of the rest world, it seems, are focused on whether Congress and a reelected president can avoid the fiscal cliff. To tell us what's at stake, we turn now to David Wessel. He's the economics editor of The Wall Street Journal and author of "Red Ink," a new primer on the federal budget and the deficit.

Officials in Washington are still trying to make sense of the sudden resignation last week of CIA Director David Petraeus. More details are emerging about the extramarital affair that brought Petraeus down. It came to light following an FBI investigation, which was not focused originally on the CIA director but soon led to him.

A second term means some new Cabinet appointments for President Obama, including at the Treasury. After four pretty grueling years, Secretary Timothy Geithner has made it clear he will be leaving Washington.

White House press secretary Jay Carney said last week that Geithner would be staying on through the inauguration. He's also expected to be a "key participant" in "fiscal cliff" negotiations.

In 1979, when Jim Stigler was still a graduate student at the University of Michigan, he went to Japan to research teaching methods and found himself sitting in the back row of a crowded fourth-grade math class.