A prominent economist tells Press TV that the United States so-called
fiscal cliff is more like a 'bottomless pit of debt' that the country is
diving into. He also added that the United States risks collapsing of
dollar in 2013. US President Barack Obama has signed into law a bill
backed by the Senate that averted the so-called fiscal cliff, the White
House says. Obama signed the 'American Taxpayer Relief Act of 2012' on
Wednesday, the White House said in a statement. On January 1, the House
of Representatives voted 257 to 167, approving the bill, which consists
of raising taxes on the wealthiest Americans, while exempting others who
earn less than $450,000 a year. It will also put off 109 billion
dollars in budget cuts for two months.
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