John Boehner: 'Let's solve fiscal cliff together'

US Speaker of the House John Boehner has struck a conciliatory tone after the re-election of President Barack Obama, and expressed confidence that the two parties will be able to find common ground on key issues.

In a press conference ahead of an economic speech by the president, Mr Boehner said politicians should ensure that "2013 is finally the year that our government comes to grips with the major problems that are facing us".

The US faces a combination of deep federal spending cuts and tax rises due to take effect in the new year.

Dubbed the "fiscal cliff", economists have said that unless Congress can reach an agreement to stave off the measures, the US economy could slip back into recession.