(FORTUNE Magazine) – Dear FORTUNE Readers: Here's some of the latest buzz from D.C.:

CAMPAIGN FINANCE For years Democrats led the charge for campaign finance reform (with John McCain tossed in to confuse things) because Republicans collected so much more soft money. No longer. Both parties raised the same amount in the last election (roughly $240 million). If the bill dies, Democrats will help wield the knife.

THE BUDGET Congress is rushing to cut taxes to jump-start the economy. Right? Not entirely. Lawmakers aren't just worried about this year, they're concerned about 11 years hence. That's when the baby-boom generation starts to turn 65 and Medicare and Social Security costs skyrocket. Since ten-year estimates drive this debate, lawmakers have only this year to act before official projections make obvious that budget surpluses are about to run dry.

FAMILY FEUD The talk of the Senate is that two of its most prominent liberal Democrats, Hillary Clinton of New York and Barbara Boxer of California, are barely speaking. Boxer's daughter, Nicole, and Clinton's brother, Tony Rodham, divorced last year after six years of marriage. One Democrat calls the senators' relationship "uncomfortable"; another calls it "strained." Spokesmen for both deny that there's a rift--of course.