Deal far from a ‘grand bargain’ on reducing budget deficit, say analysts

The bill removes most threats to a recovery, but many issues remain, writes Jason Lange

A deal worked out by US Senate leaders to avoid the “fiscal cliff” was far from any “grand bargain” of deficit reduction measures.

But if approved by the US House of Representatives, it could help the country steer clear of recession, although enough austerity would remain in place to likely keep the economy growing at a lesser pace.