Reuters breaks news on sharp rise in U.S. 10- year deficit

Reuters had a major exclusive on the U.S. budget outlook, reporting on August 21 that the White House would raise its projection for the 10-year deficit to some $9 trillion from a previous $7.1 trillion. All rival news organizations scrambled to match the story — an especially significant one for bond markets which are sensitive to deficit news. The report was fraught with political risk for President Barack Obama, whose proposals for such domestic policies as healthcare reform have been undermined by concern about skyrocketing deficits. The Reuters story was the top headline on the widely read Drudge Report and the most-read story on reuters.com for at least two days.