Latest Government debt News

German Finance Minister Olaf Scholz, right, delivers a speech during a budget debate as part of a meeting of the German federal parliament, Bundestag, at the Reichstag building in Berlin, Germany, Tuesday, Sept. 29, 2020. At left is German Chancellor Angela Merkel. (AP Photo/Michael Sohn)

German minister says debt won't reach financial crisis level

Sep. 29, 2020 4:45 PM EDT

BERLIN (AP) — Germany's debt load won't reach the level it did in the financial crisis a decade ago as a result of the coronavirus pandemic, the finance minister said Tuesday, and it will still look better than that of Germany's peers in the Group of Seven did before the virus outbreak. Olaf Scholz was...

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York.  Stocks are falling early on Wall Street Thursday, Sept. 17,  as the late selling from the previous day carries over.  (AP Photo/Mary Altaffer, File)

Soaring wealth during pandemic highlights rising inequality

Sep. 21, 2020 2:56 PM EDT

WASHINGTON (AP) — Americans' household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes. The...

The European Central Bank is seen in Frankfurt, Germany, Thursday, Sept. 10, 2020. The governing council of the ECB will meet on Thursday. (AP Photo/Michael Probst)

European Central Bank expects to use full extent of stimulus

Sep. 10, 2020 2:32 PM EDT

FRANKFURT, Germany (AP) — European Central Bank head Christine Lagarde said the bank would “likely” use all of the 1.35 trillion euros ($1.6 trillion) in planned stimulus to support the economy through the pandemic, which has caused a massive recession and is seeing a new rise in contagions....

Editorial Roundup: Idaho

Sep. 10, 2020 11:54 AM EDT

Recent editorials of statewide and national interest from Idaho newspapers: What if all your polling places are destroyed? New Idaho law says, ‘Too bad’ Idaho Statesman Sept. 10 One of the more disturbing stories to come out of this year’s still-developing wildfire season was the near-total...

FILE - In this April 29, 2020 file photo, a sign displaying the size of the national debt is displayed along an empty K Street in Washington.  The Congressional Budget Office has warned that the government this year will run the largest budget deficit, as a share of the economy, since 1945, the year World War II ended. Next year, the federal debt — made up of the year-after-year gush of annual deficits — is forecast to exceed the size of the entire American economy for the first time since 1946.  (AP Photo/Andrew Harnik, File)

AP Explains: US debt will soon exceed size of entire economy

Sep. 5, 2020 11:06 AM EDT

WASHINGTON (AP) — The U.S. government's war against the coronavirus is imposing the heaviest strain on the Treasury since America's drive to defeat Nazi Germany and imperial Japan three-quarters of a century ago. The Congressional Budget Office has warned that the government this year will run the largest...

FILE - Marble sculptures occupy the pediment above the New York Stock Exchange signage, Tuesday Aug. 25, 2020, in New York.  Stocks are falling again on Wall Street Friday, Sept. 4,  a day after a big slump in technology companies pulled the market to its biggest drop since June.  (AP Photo/Bebeto Matthews, File)

Stocks claw back some of their losses in another rocky day

Sep. 4, 2020 5:34 PM EDT

The stock market closed out its worst week in more than two months Friday as a second straight day of turbulent trading ended with more losses. The S&P 500 fell 0.8%, although the index did claw most of the way back from a 3.1% skid earlier in the day. A slide in technology stocks again did much of the...

FILE - In this Aug. 3, 2020, file photo dark clouds and heavy rain sweep over the U.S. Capitol in Washington. The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said Wednesday, Sept. 2. (AP Photo/J. Scott Applewhite, File)

Budget deficit to hit record $3.3T due to virus, recession

Sep. 3, 2020 12:13 AM EDT

WASHINGTON (AP) — The federal budget deficit is projected to hit a record $3.3 trillion as huge government expenditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said. The spike in the deficit means that...

Treasury Secretary Steven Mnuchin is sworn in before the House Select Subcommittee on the Coronavirus Crisis during a hybrid hearing, Tuesday, Sept. 1, 2020, on Capitol Hill in Washington (Nicholas Kamm/Pool via AP)

Budget deficit to hit record $3.3T due to virus, recession

Sep. 2, 2020 3:14 PM EDT

WASHINGTON (AP) — The federal budget deficit is projected to hit a record $3.3 trillion as huge government expeditures to fight the coronavirus and to prop up the economy have added more than $2 trillion to the federal ledger, the Congressional Budget Office said Wednesday. That’s more than triple...

FILE - In this Dec. 31, 2016 file photo, the sun rises over the city skyline with the Burj Khalifa, the world's tallest building, on a foggy day in Dubai, United Arab Emirates. Dubai is tapping the global financial market to potentially raise billions of dollars for the first time in years. That's according to a bond prospectus seen on Tuesday, Sept. 1, 2020, by The Associated Press. It reveals the deepening toll of the coronavirus pandemic on Dubai's economy. (AP Photo/Kamran Jebreili, File)

Dubai, hit hard by virus, returns to global financial market

Sep. 1, 2020 9:43 AM EDT

DUBAI, United Arab Emirates (AP) — Dubai is tapping the global financial market to potentially raise billions of dollars for the first time in years, a new bond prospectus shows, revealing the deepening toll of the coronavirus pandemic on its economy. From long-haul carrier Emirates to its delayed Expo...

Germany to issue 'green bonds' worth up to $13B this year

Aug. 24, 2020 10:09 AM EDT

BERLIN (AP) — The German government plans to generate up to 11 billion euros ($13 billion) for clean transportation and renewable energy projects this year by issuing so-called green bond, officials said Monday. The step is part of an effort to meet demand for environmentally friendly investments and...