US deal avoids fiscal cliff, but major spending cuts 'still likely' | Asia Pacific

US deal avoids fiscal cliff, but major spending cuts 'still likely'

US deal avoids fiscal cliff, but major spending cuts 'still likely'

Updated 2 January 2013, 22:28 AEDT

The United States is back from the brink of the fiscal cliff after the House of Representatives approved a Senate bill to stop the economy tumbling into another recession.

But Washington isn't out of the economic woods just yet, with massive spending cuts that were due to go into effect this week merely been postponed until the end of February.

Presenter: Laura Tchilingurian

Speaker: Donald Betts, former US State Senator for Kansas

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