Reuters: President Barack Obama and congressional Republicans face even bigger budget battles in the next two months after a hard-fought "fiscal cliff" deal narrowly averted devastating tax hikes and spending cuts.
The agreement, approved late on Tuesday by the Republican-led House of Representatives, was a victory for Obama, who had won re-election on a promise to address budget woes in part by raising taxes on the wealthiest Americans.
USA Today: Stocks shot higher Wednesday on the first trading day of the new year as investors expressed relief lawmakers finally found a way to avert the economy from falling off the fiscal cliff. The Dow Jones industrial average rocketed more than 300 points higher...
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