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US Congress finally averts fiscal cliff

US President Barack Obama delivers a statement late January 1, 2013 at the White House in Washington DC. After bitter New Year brinksmanship, the US Congress finally backed a deal to avert a "fiscal cliff" of tax hikes and massive spending cuts that had tAfter bitter New Year brinksmanship, the US Congress finally backed a deal to avert a "fiscal cliff" of tax hikes and massive spending cuts that had threatened to unleash economic calamity.