The political gridlock between Republicans and Democrats over the reduction of the U.S. deficit will likely remain unresolved for some time, says Barack Obama.

Differences between the two political factions remain markedly different leaving little scope for compromise, reports FT.com.

Some experts have been arguing the only way out is a combination of strong economic growth, spending cuts and tax increases.

In another development, Obama has vowed to do some tough talking over the growing menace of cyber espionage.

In a thinly veiled reference to China’s involvement, Obama expressed deep concerns over the growing threat of cyber attacks, many of which he says are state sponsored, reports another story on FT.com.

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