President Barack Obama says an effort to change the nation's tax code that is too skewed toward the wealthy has been achieved with the ``fiscal cliff'' deal approved in Congress.

The president said in an appearance late Tuesday in the White House that the House vote to prevent a mix of tax increases and
spending cuts avoids a problem that could have sent the economy back into recession.

Obama says the deficit is ``still too high'' and warns that he will not negotiate with Congress over another increase in the nation's debt ceiling.

The House approved Senate-backed legislation preventing middle-class tax increases and spending cuts that technically took effect with the new year.

It represented a triumph for Obama after he campaigned for re-election on higher taxes on the wealthy.

(The Associated Press)