Blanchflower on U.S. Budget Bill, Economy

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Jan. 2 (Bloomberg) -- David Blanchflower, a former Bank of England policy maker and a Bloomberg Television contributing editor, talks about the U.S. budget bill and the outlook for the economy. The U.S. House last night passed a bill undoing income tax increases for more than 99 percent of households, giving a victory to President Barack Obama even as Republicans vowed to fight him in coming weeks for spending cuts in exchange for raising the debt ceiling. Blanchflower speaks from Hanover, New Hampshire, with Susan Li on Bloomberg Television's "Asia Edge." (Source: Bloomberg)