Fiscal Cliff Deal Reached

By Matt Hicks

Fiscal Cliff Deal Reached

December 31, 2012 Updated Dec 31, 2012 at 9:46 PM EST

(CBS News) As revelers in Times Square and cities and towns across the country wait for the ball to drop to ring in the New Year, politicians in Washington have announced that a ball is not likely to drop on the average taxpayer. Negotiators have announced an agreement on the so-called "fiscal cliff" - and with less than three hours to spare.

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