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Obama hails US budget deal

Barack Obama has hailed a deal to avoid a "fiscal cliff" of stark tax hikes and spending cuts. The US House of Representatives backed the bill by 257 votes to 167.

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US dances on the edge of the 'fiscal cliff'

There are some hours left this evening and US politicians continue their talks in Congress tonight, but with every minute that slips by the chances of a deal become a lot slimmer.

Publicly the politicians here are still saying that they remain cautiously confident that they will get a deal, because if they do not tax rises come in automatically tomorrow, and should they remain in place they risk putting the country back into recession.

Bad news for Americans, but also cause for deep concern across the world, as Lewis Vaughan Jones reports.

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