Obama Signs Fiscal Cliff, Defense Bills

President Barack Obama has signed the bill that staves off across-the-board tax increases and budget cuts to domestic programs.

President Barack Obama (2L) arrives at Joint Base Pearl Harbor-Hickam to resume his vacation (Kent Nishimura-Pool/Getty Images)

The bill that averts the so-called fiscal cliff does raise taxes for the wealthiest Americans.

The president also has signed $633 billion defense bill for next year.