'Fiscal cliff' deal reached between White House, lawmakers: Source
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President Barack Obama gestures as he speaks about the fiscal cliff, on Monday, Dec 31, 2012, in the South Court Auditorium at the White House in Washington. The White House and congressional lawmakers have reached a deal to avoid the "fiscal cliff" that would delay harsh spending cuts by two months, an Obama administration source said on Monday. -- PHOTO: AP
WASHINGTON (REUTERS) - The White House and congressional lawmakers have reached a deal to avoid the "fiscal cliff" that would delay harsh spending cuts by two months, an Obama administration source said on Monday.
The source said Democratic Senate Majority Leader Harry Reid and House of Representatives Minority Leader Nancy Pelosi had signed off on the deal.
The agreement includes a balance of spending cuts and revenue increases, the source said.
