During a news conference moments after the House passed a Senate-backed bill to prevent the fiscal cliff, Obama spoke about the country's deficit problem.
"I think we will recognise this law is just one step in the broader effort to strengthen our economy and broaden our opportunities for everybody. The fact is the deficit is still too high and we are still investing too little in the things we need for the economy to grow as fast as they should."
The House of Representatives adopted the bill on a 257-167 vote.
The measure averts income tax increases for more than 98-percent of Americans, while allowing rates to go up for the wealthiest earning over 400-thousand US dollars.
The new law also delays 24-billion-US-dollars worth of automatic spending cuts for two
