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What the Cliff Compromise Means for the Economy

Congress' last-minute deal cut the so-called fiscal cliff in half, lessening economic headwinds in the short term, but much work remains to address longer-term debt and deficit issues, says Morningstar's Bob Johnson.

Jason Stipp: I'm Jason Stipp for Morningstar.

Congress was able to come to a last-minute deal to avert most of the fiscal cliff, at least some of it temporarily, but what's still left to do? There is plenty of work.