JUST LIKE OBAMA AND THE “FISCAL CLIFF:” CBS News: Egypt’s president offers nothing to defuse crisis. Perhaps Morsi thinks the crisis offers an opportunity for a power-grab. But he faces spirited opposition:

Speaking in a nationally televised address, Morsi accused some in the opposition of serving remnants of Hosni Mubarak’s authoritarian regime and vowed he would never tolerate anyone working for the overthrow of his “legitimate” government.

That brought shouts of “the people want to topple the regime!” from the crowd of 30,000 Morsi opponents — the same chant used in the protests that brought down Mubarak. CBS News correspondent Holly Williams reports that protesters gathered around his palace during the speech, holding their shoes over their heads as a clear sign of disrespect.

Stay tuned.