UPDATED 10:09 AM EST, January 5, 2013
HONOLULU (AP) — President Barack Obama is hailing a last-minute deal that avoids the fiscal cliff but says it's just one step in a broader effort to boost the economy and shrink federal deficits.
Obama said in his radio and Internet address Saturday that the new law — approved by Congress on New Year's Day and signed Thursday — raises taxes on the wealthiest Americans while preventing a middle-class tax hike that could have thrown the economy back into recession.
