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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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Obama: 'A deal is within sight'

President Obama

President Obama has told a press conference at the White House that; "for the last few days the leaders in both parties have been working towards an agreement.

"Today it appears an agreement to prevent this New Year's tax hike is within sight - but it's not done. there are still issues left to resolve but we're confident Congress can get it done."

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