* Disputes over price tag, strategies loom

* Democrats scramble to cap cost of new proposal

* New drug deal may help -- but how much?

(Adds Sen. Feinstein's comment)

By Donna Smith

WASHINGTON, June 21 (Reuters) - Growing worries over budget deficits and government intervention could jeopardize President Barack Obama's proposed healthcare overhaul in Congress as lawmakers bicker over costs and strategies for covering the uninsured.

Obama and his fellow Democrats, who control Congress, have enormous political capital invested in succeeding at providing affordable medical coverage to the millions of uninsured Americans, after decades of failed efforts by others, including the previous Democratic president, Bill Clinton.

But opposition is building even as a group of senators tries this week to negotiate a proposal they hope will quiet critics and win support in both parties.

Senate Finance Committee Chairman Max Baucus said he was confident he could craft such a bill.