Fiscal cliff looms, consumer confidence wanes

Fears over the potential fiscal cliff have many Americans holding their wallets closer.

In fact, the Conference Board's Consumer Confidence Index fell almost 6.5 points this month to 65.1.

When it comes to U.S. holiday retail sales this year, it's at the lowest it's been since 2008.

Some shoppers tell ABC 33/40, if they have extra money to spend, it's only going toward small purchases.People who don't have the extra bucks say they aren't willing to go into debt to buy anything.Shoppers also say it's not just big ticket holiday gifts they are going without, they are also holding off on cars, homes and other large purchases.