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Fiscal cliff fears as clock ticks down

US lawmakers have just 11 days to reach a deal before a combination of steep tax rises and sharp spending cuts will take effect - the so-called fiscal cliff.

US lawmakers have just 11 days to reach a deal before a combination of steep tax rises and sharp spending cuts will take effect - the so-called fiscal cliff.

The issue has been a political football in Washington for weeks, but as the clock ticks down there is little sign of agreement.

Mark Mardell reports.