Max Baucus

Senate Dems Split on Cutting Benefits to Get Fiscal Cliff Deal

Deep divisions among Senate Democrats over whether cuts to Medicare and Medicaid should be part of a plan to slow the growth of the federal debt pose a big obstacle to a deal for avoiding a potentially economy-crushing "fiscal cliff," even if Republicans agree to raise taxes.

Meet the 12 People Who Have to Fix the U.S. Budget

There has been a pleasant lull in reporting about the debt ceiling and budget debate, but don't let the quiet fool you. Right now, 11 men and one woman are crafting a plan to reduce the federal budget deficit by $1.5 trillion over 10 years. They are the members of the Joint Select Committee on Deficit Reduction -- aka, the Deficit Supercommittee

GlaxoSmithKline Settles 10,000 Avandia Lawsuits

GlaxoSmithKline, whose diabetes drug Avandia is undergoing a safety review by the FDA, has agreed to pay about $460 million to resolve about 10,000 lawsuits from users of the drug, which can allegedly cause heart attacks and strokes.

FDA Panel Scrutinizing Diabetes Drug Avandia

On Tuesday, the FDA will convene a panel of experts to discuss GlaxoSmithKline's type II diabetes drug Avandia. Once a blockbuster, sales of the drug have dropped by more than half since studies suggested it significantly increases risk for serious heart problems.