Some health care stocks remain volatile with the federal government considering a plan to cut spending and raise the nation's borrowing limit, according to a Jefferies analyst.
Analyst Arthur I. Henderson said in a Monday research note that Medicare, the federal program that provides health insurance for the elderly and disabled, "remains in the crosshairs" as Congress and the Obama administration negotiate a plan to trim the federal deficit.
The federal budget deficit is on track to exceed $1 trillion for a third straight year. The huge deficits are putting pressure on federal negotiators to come up with a plan to bring it under control. They face an Aug. 2 deadline for getting an agreement on spending cuts and a measure to boost the nation's borrowing limit.
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