Mar 05

U.S. budget deficit up 77 percent so far this budget year

The higher deficit reflected greater spending in areas such as Social Security, defense and interest payments on the national debt. Meanwhile, the government collected lower taxes from individuals and corporations, reflecting the impact of the $1.5 trillion tax cut President…

The Senate Finance Committee's health care reform plan would cost $829 billion over 10 years, but would meet President Barack Obama's goal of reducing the federal budget deficit by 2019, according to a cost estimate released Wednesday.