BRENDAN SMIALOWSKI/AFP/Getty Images

US President Barack Obama speaks during Veterans' Day ceremonies at Arlington National Cemetery November 11, 2012 in Arlington, Virginia.

A roundup of this week's biggest stories with Jim Rainey, political columnist for the Los Angeles Times, and David Gura, reporter from the Marketplace Washington Bureau.

Topics:

Petraeus/Broadwell/Allen/Kelley affair
Obama's first press conference since reelection
The Fiscal Cliff
Mitt Romney, post-election
Hostess closes amid union strike
The US Postal Service is bleeding
BP fined $4.5 billion for Gulf oil spill