President Obama spoke to reporters and answered questions in his first formal news conference since his re-election. Among the topics addressed were the resignation of General David Petraeus as CIA director, demographics of the American electorate, the state of the economy, budget negotiations and efforts to avoid the economic “fiscal cliff” in January 2013, potential cabinet appointments, and his agenda for a second term. He also strongly defended United Nations Ambassador Susan Rice against criticisms of her response to terrorist attacks in Benghazi, Libya and said he would not hesitate to nominate her as secretary of state if she was the most qualified candidate.