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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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Pelosi: Fiscal cliff deal 'long overdue'

Nancy Pelosi speaking at a press conference following a meeting of Democrats in the House of Representatives Credit: Reuters

Nancy Pelosi, the Democrat leader in the House of Representatives, said a fiscal cliff deal was "long overdue" and that she wanted a bipartisan agreement.

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