HONOLULU -- President Barack Obama is hailing a last-minute deal that pulled the country back from the "fiscal cliff," but warned that he "will not compromise" over his insistence that Congress lift the federal debt ceiling.

Obama said in his radio and Internet address Saturday that the fiscal cliff deal, approved by Congress on New Year's Day and signed Thursday, raises taxes on the wealthiest Americans while preventing a middle-class tax increase that could have thrown the economy back into recession.

With one crisis behind him, Obama faces new battles in Congress over raising the country's $16.4 trillion borrowing limit, as well as scaling back more than $100 billion in automatic spending cuts for the military and domestic programs. The cuts are delayed by two months under the compromise.

Lawmakers promise to replace those across-the-board cuts with more targeted steps that could take longer to implement.

Obama, speaking from Hawaii, where he is on vacation with his family, said he is willing to consider more spending cuts and tax increases to reduce the deficit.

But he said he will not compromise over his insistence that Congress lift the debt ceiling. The nation's credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling, in 2011.

"If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic," Obama said. "Our families and our businesses cannot afford that dangerous game again."

If elected officials from both parties "focus on the interests of our country above the interests of party, I'm convinced we can cut spending and raise revenue in a manner that reduces our deficit and protects the middle class," Obama said.

In the Republican address, Rep. Dave Camp of Michigan said that as attention again turns to the debt limit, "we must identify responsible ways to tackle Washington's wasteful spending."

Americans know that "when you have no more money in your account and your credit cards are maxed out, then the spending must stop," Camp said.

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  • The Numbers

    The House has 233 Republicans and 200 Democrats. Each party should pick up one more seat when two vacancies are filled. Going into the election, the GOP edge was 242-193. Senate Democrats will have a caucus of 55, including two independents, Angus King of Maine and Bernie Sanders of Vermont. Republicans have 45. That's a pickup of two seats for Democrats. <em>(Text <a href="http://www.huffingtonpost.com/huff-wires/20130103/us-new-congress-glance/">via the Associated Press</a>)</em>

  • Women

    The House will have 79 women, including 60 Democrats. At the end of the last session, there were 50 Democratic women and 24 Republican women. The new Senate will have 20 women members, an increase of three. That consists of 16 Democrats and four Republicans. The last Senate had 12 Democratic women and five Republicans. (Text <a href="http://www.huffingtonpost.com/huff-wires/20130103/us-new-congress-glance/">via the Associated Press</a>)

  • Freshmen

    With two vacancies to be filled, the House has 82 freshmen; 47 Democrats and 35 Republicans. As of the end of the last session, 87 of 103 freshmen were Republicans. The Senate will include 14 new faces, with nine Democrats and the independent King. Five are women. New senators include Brian Schatz, who was sworn in on Dec. 27 to fill the seat of the late Hawaii Democrat Daniel Inouye. (Text <a href="http://www.huffingtonpost.com/huff-wires/20130103/us-new-congress-glance/">via the Associated Press</a>) <em>(Pictured at left: Incoming House freshmen of the 113th Congress pose for a group photo on the East steps of the Capitol in Washington, Thursday, Nov. 15, 2012. AP Photo/Susan Walsh)</em>

  • African Americans

    The House will have 40 African-Americans, all Democrats. The number of Democrats is unchanged, although two Republicans will be gone: Allen West, R-Fla., lost his re-election bid, and Tim Scott, R-S.C., was appointed to fill the Senate seat of Jim DeMint, R-S.C., who is retiring. Scott will be the first black lawmaker in the Senate since Roland Burris, who retired in 2010 after filling the Illinois Senate seat of Barack Obama for almost two years. (Text <a href="http://www.huffingtonpost.com/huff-wires/20130103/us-new-congress-glance/">via the Associated Press</a>) <em>(Pictured at left: Rep. Tim Scott, R-S.C., who was appointed by South Carolina Gov. Nikki Haley to replace outgoing Sen. Jim DeMint, R-S.C., walks out of the Republican policy luncheon on Capitol Hill in Washington, Tuesday, Dec. 18, 2012. AP Photo/Susan Walsh)</em>

  • Hispanics

    The new House will have 33 Hispanics, with 25 Democrats and eight Republicans. That's up slightly from last year. The Senate will have three Hispanics: Democrat Robert Menendez of New Jersey, Republican Marco Rubio of Florida and Republican freshman Ted Cruz of Texas. (Text <a href="http://www.huffingtonpost.com/huff-wires/20130103/us-new-congress-glance/">via the Associated Press</a>) <em>(Pictured at left: Rep.-elect Joaquin Castro, D-Texas, speaks with members of the media after a news conference with newly elected Democratic House members on Capitol Hill in Washington, Tuesday, Nov. 13, 2012. AP Photo/Pablo Martinez Monsivais)</em>

  • Other Minorities

    The new House will have nine Asian Americans, all Democrats. There are two American Indians: Tom Cole, R-Okla., and Ben Lujan, D-N.M. (Text <a href="http://www.huffingtonpost.com/huff-wires/20130103/us-new-congress-glance/">via the Associated Press</a>) <em>(Pictured at left: Sen.-elect, current Rep. Mazie Hirono, D-Hawaii, and her husband, Leighton Oshima ride the Senate Subway on Capitol Hill in Washington, Tuesday, Nov. 13, 2012. AP Photo/Harry Hamburg)</em>

  • Other Facts

    According to CQ Roll Call newspaper, the average age of House members in the 113th Congress is 57; the average age of senators is 62. It estimates that the House will include some 277 Protestants and Catholics, 22 Jews, two Muslims and two Buddhists. The Senate will have 80 Protestants and Catholics and 10 Jews. The House will have its first Hindu, Rep.Tulsi Gabbard, D-Hawaii. Senate freshman Mazie Hirono, also of Hawaii, will be the Senate's only Buddhist and its first Asian American woman. Also for the first time, white men will be a minority among House Democrats. (Text <a href="http://www.huffingtonpost.com/huff-wires/20130103/us-new-congress-glance/">via the Associated Press</a>) <em>Pictured at left: Rep.-elect Tulsi Gabbard, D-Hawaii is seen on stage during a news conference with newly elected Democratic House members, on Capitol Hill in Washington, Tuesday, Nov. 13, 2012. AP Photo/Pablo Martinez Monsivais)</em>