November tax receipts grow, deficit higher: CBO

WASHINGTON (Reuters) - Government tax receipts grew at a healthy 6 percent pace in November as employment and wages improved, the Congressional Budget Office said on Friday, but the month's deficit still rose, largely because of benefit payment calendar shifts. Should the revenue growth trend continue, it could buy the U.S. Treasury Department slightly more time before it runs out of borrowing capacity early next year. An increase in the federal debt limit is tangled up in the negotiations between President Barack Obama and Congress over how to deal with the year-end "fiscal cliff" of automatic tax hikes and spending cuts. Obama has sought permanent authority to lift the...