Federal deficit higher in July, $1.27T this year

WASHINGTON (AP) -- The federal deficit climbed higher into record territory in July, hitting $1.27 trillion with two months remaining in the budget year. The soaring deficits have raised worries among foreign owners of U.S. Treasury securities including the Chinese, the largest holder of such debt. http://finance.yahoo.com/news/Federal-deficit-higher-in-apf-3876319127.html?x=0&.v=5