President Barack Obama's health care overhaul will reduce rather than increase the nation's huge federal deficits over the next decade, Congress' nonpartisan budget scorekeepers said Tuesday, supporting Obama's contention in a major election-year dispute with Republicans.

Yes, if Mitt Romney wins the White House and his Republican allies retake the Senate, he could shred most of President Barack Obama's health care law without having to overpower a Democratic filibuster.

Democrats controlling the Senate rejected for the second year in a row Wednesday a budget plan passed by House Republicans.

House Speaker John Boehner says that when Congress raises the nation's borrowing cap he will again insist on spending cuts and budget reforms to offset the increase.

Treasury Secretary Tim Geithner said Tuesday that the recent $2 billion trading loss by JPMorgan "helps make the case" for tougher rules on financial institutions, as regulators continue to implement the 2010 law aimed at policing Wall Street.

The GOP-controlled House Thursday passed legislation to replace a looming 10 percent cut to the military budget with cuts to domestic programs like food stamps and health care.

Republicans controlling the House are pressing cuts to food stamps, health care and pensions for federal workers as an alternative to an automatic 10 percent cut to the military come January.

The Republicans who control the House are using cuts to food aid, health care and social services like Meals on Wheels to protect the Pentagon from a crippling wave of budget cuts come January.