Deficit to hit $1.3 trillion in 2010, CBO says

Date: Tue, 26 Jan 2010 12:00:57 -0500

DEFICIT HIT $1.3 TRILLION IN 2010, CBO SAYS
The U.S. budget deficit will hit $1.3 trillion in 2010, congressional
budget analysts estimate, in a fresh piece of grim news for President
Barack Obama.

OBAMA REPORTEDLY TO PROPOSE BUDGET FREEZE
President Barack Obama is expected to call for a three-year freeze in
spending for a portion of the U.S. federal budget in a first tiny step
toward controlling the growing deficit.

TREASURYS UP ON BUDGET-FREEZE PLAN
Treasury prices rise Tuesday, pushing yields down towards the lowest
level in more than a month, on reports President Obama will propose a
spending freeze for some federal departments.

OBAMA PROPOSES MIDDLE CLASS TAX CREDITS
The White House rolls out a batch of initiatives designed to help out
middle-class Americans shortly before President Barack Obama's first
State of the Union address.

FED CHIEF'S LIKELY TO WIN RECONFIRMATION: ANALYSTS
A firestorm of doubt that erupted last week over whether lawmakers'
support for Fed Chairman Ben Bernanke was eroding has been all but
extinguished almost as quickly, positioning the top U.S. central
banker to win a key vote in the Senate.