The fiscal cliff agreement: lasting solution or just a brief respite?

Politicians in Washington have managed to avoid plunging the United States off the "fiscal cliff", which would have imposed deep spending cuts and tax rises. Instead, President Obama and Congress agreed limited tax rises, while deferring discussion of spending cuts. But is this a solution, or just a respite? Richard Macgregor, Washington bureau chief, and Martin Sandbu, economics leader writer, join Gideon Rachman.

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