US President Barack Obama signed the "fiscal cliff" deal into law, averting a financial crisis with global repercussions, but the IMF, rating agencies and analysts warned that the critical problem of deficits and debt still hang over the US economy.
US President Barack Obama steps off Air Force One on January 2, 2013 at Hickam Air Force Base, Honolulu, Hawaii. Obama returned to Hawaii to continue his vacation which he interrupted to deal with the "fiscal cliff" crisis. He signed the deal into law but the IMF, rating agencies and analysts warn the critical problem of deficits and debt still hang over the US economy.
Financial markets turned cool towards the last-minute agreement Thursday, in contrast to the initial stocks surge which had greeted the deal Wednesday.
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