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Federal Deficit Down to $157.3 Billion

Market News
WASHINGTON (AP) -- The federal deficit so far this budget year is running sharply lower, driven by record revenues pouring into government coffers.

The Treasury Department reported on Friday that the government produced a deficit of $157.3 billion for the budget year that began last Oct. 1. That's a substantial improvement from the red ink figure of $239.6 billion produced for the corresponding 10-month period last year.

The lower year-to-date deficit was the result of a record of $2.12 trillion in revenues. Spending, however, was higher -- $2.27 trillion, which also marked an all-time high.

The White House predicts that the deficit this year drop to $205 billion.

But the nonpartisan Congressional Budget Office predicts the government will produce even less red ink this year. It recently said the deficit will be "toward the lower end" of a $150 billion to $200 billion range.

Democrats and the Bush administration have been at odds over the nation's fiscal situation. Democrats believe the shrinking deficits won't last. President Bush,

Pfizer Facing 4 Court Cases in Nigeria

Market News
KANO, Nigeria (AP) -- A security guard in this dusty Nigerian city is living with tragedy -- a 14-year-old son whose dazed eyes, slow speech and uneven gait signal brain damage. Mustapha Mohammed says he knows who to blame -- Pfizer Inc., the world's largest drug maker.

New York-based Pfizer is facing four court cases -- two filed by the Nigerian government and two by officials in the northern Nigerian state where Mohammed lives -- over a decade-old drug study that included Mohammed's son.

The company, which denies any wrongdoing, is accused of using a 1996 meningitis epidemic to push through a sloppily managed drug study that contributed to death in some and infirmities in others.

The fallout provides a case study of the ethical dilemmas that arise when Western medical priorities run into Third World poverty and ignorance. The communication gap between those handing out medical alms and those receiving has bred mistrust and anger in Kano -- with damaging, far-reaching effect.

The Pfizer case was cited as one reason residents of Kano and the state of the same name boycotted a polio vaccine in 2003, fearing it was a plot to make Africans

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