Economy Jul 12

Photo of U.S. capitol by Joshua Roberts/Reuters
U.S. budget deficit totals $74.9 billion in June

WASHINGTON — The federal government recorded a $74.9 billion deficit in June, a month when the government often runs a surplus, as corporate taxes dropped sharply compared to a year ago.

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.