Latest Government debt News

DeVos: Defrauded students may only get partial loan relief

Dec. 10, 2019 6:41 PM EST

Students who are cheated by their colleges will receive full loan forgiveness only if they end up earning far less than their peers, while others will receive relief between 25% and 75% of their debt under new rules unveiled Tuesday by the U.S. Education Department. The policy is a departure from the Obama...

Japanese regulators recommend $22 million fine on Nissan

Dec. 10, 2019 7:26 AM EST

TOKYO (AP) — Japanese securities regulators are recommending that automaker Nissan be fined 2.4 billion yen ($22 million) for under-reporting compensation for its former chairman, Carlos Ghosn. The watchdog, the Securities and Exchange Surveillance Commission, said Tuesday it made the recommendation to...

Fed is likely to reinforce a message of continued low rates

Dec. 9, 2019 2:42 PM EST

WASHINGTON (AP) — The Federal Reserve is expected to send a clear message when its latest policy meeting ends Wednesday: Interest rates will likely stay ultra-low for the foreseeable future. Behind that message is a view that has gained support at the Fed as the U.S. economic expansion has entered a record...

In 2020 budget, Greece vows to beat post-bailout targets

Nov. 21, 2019 9:33 AM EST

ATHENS, Greece (AP) — The Greek government has pledged to exceed the strict surplus targets demanded by its former bailout lenders for this year and next. In the 2020 budget submitted to Parliament Thursday, the government says it will outperform its primary surplus target— the annual balance before...

Powell urges Congress to tackle growing budget deficit

Nov. 14, 2019 3:23 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell on Thursday urged Congress to tackle the growing budget deficit but also underscored the current health of the nation’s economy. Powell’s testimony before the House Budget Committee came a day after he told Congress’ Joint...

US budget deficit surges to $134.5 billion in October

Nov. 13, 2019 5:10 PM EST

WASHINGTON (AP) — The federal government, which ended the 2019 budget year with its largest deficit in seven years, began the new budget year with a deficit in October that was 33.8% bigger than a year ago as spending hit a record. The Treasury Department said Wednesday that the deficit last month totaled...

Sanford suspends GOP presidential primary challenge to Trump

Nov. 12, 2019 3:12 PM EST

CONCORD, N.H. (AP) — Mark Sanford dropped his challenge to President Donald Trump for the Republican presidential nomination on Tuesday, saying the focus on impeachment has made it difficult for his campaign to gain traction. "You've got to be a realist," Sanford said outside the New Hampshire statehouse....

Stocks push past latest trade-war confusion to more records

Nov. 8, 2019 4:44 PM EST

NEW YORK (AP) — The stock market capped another week of healthy gains on Friday, but it ended on more of a befuddled note than a bang as confusion about the U.S.-China trade war hung over the market. Stocks wobbled between small gains and losses through the day amid conflicting signals about the progress...

Tick tock, in hock: National debt clock looms over Atlanta

Nov. 7, 2019 1:34 PM EST

ATLANTA (AP) — A nonpartisan organization has placed a national debt clock in downtown Atlanta, right on time for a Democratic presidential debate coming to the city in two weeks. The Atlanta Journal-Constitution reports New York-based Peter G. Peterson Foundation placed the billboard on Ted Turner Drive...

As economy slows, new ECB head Lagarde faces big challenges

Oct. 31, 2019 10:59 AM EDT

FRANKFURT, Germany (AP) — Europe's economy is losing steam. Top officials at the European Central Bank are at odds over policy. And it's even unclear whether they can do much to help anyway. It adds up to a full in-tray for Christine Lagarde as she takes over as ECB president on Friday. The former head of...