Latest Government spending News

House leaders racing the clock on government spending bill

Dec. 11, 2019 1:19 PM EST

WASHINGTON (AP) — The Senate's top Republican issued a downbeat assessment of talks on a government spending bill Wednesday, warning that it will require a “laser focus from both parties and both chambers" to meet next week's deadline and avert a federal shutdown. Across the Capitol, House Speaker...

Saudi Arabia's deficit widens to $49B ahead of Aramco sale

Dec. 9, 2019 2:33 PM EST

RIYADH, Saudi Arabia (AP) — Saudi Arabia will reduce spending in 2020 as the budget deficit widens to $49 billion amid sluggish oil prices and deeper curbs on oil production by the heavyweight producer. King Salman announced Monday expenditures will reach $272 billion next year, a nearly 8% decrease from...

US construction spending falls 0.8% in October

Dec. 2, 2019 11:56 AM EST

WASHINGTON (AP) — Spending on U.S. construction projects fell 0.8% in October, dragged down by declines in apartment and multi-family homebuilding. Private construction spending declined 1% in October, the Commerce Department said Monday. That follows another significant 1.1% decline in September. Overall...

US economy looking durable despite risks from trade conflict

Nov. 27, 2019 1:08 PM EST

WASHINGTON (AP) — A series of government reports Wednesday cast a picture of a steadily growing U.S. economy, fueled by solid consumer spending and defying threats — at least for now — from a U.S.-China trade war and a global slowdown. The Commerce Department estimated that the economy grew...

Abe becomes Japan’s longest-serving prime minister

Nov. 20, 2019 6:24 AM EST

TOKYO (AP) — Prime Minister Shinzo Abe made history Wednesday by becoming Japan’s longest-serving political leader, though he hasn’t achieved his biggest goal of revising the nation’s pacifist constitution. Abe marked his 2,887th day in office, surpassing Taro Katsura from the early...

House passes short-term spending measure as talks falter

Nov. 19, 2019 3:57 PM EST

WASHINGTON (AP) — The House passed a short-term spending bill Tuesday that would keep federal agencies running for another month in hopes the additional time will help negotiators wrap up more than $1.4 trillion in unfinished appropriations bills. The bill would avert a Thanksgiving government shutdown but...

Iraq’s protests raise question: Where does the oil money go?

Nov. 14, 2019 7:07 AM EST

BAGHDAD (AP) — Waves of violent protests have engulfed Baghdad and Iraq’s southern provinces, with demonstrators chanting for the downfall of a political establishment that they say doesn’t prioritize them. Fueling the unrest is anger over an economy flush with oil money that has failed to...

Japan’s economy slows, logging 0.2% annual expansion in 3Q

Nov. 13, 2019 11:44 PM EST

TOKYO (AP) — Japan’s economy grew at a modest annual pace of 0.2% in July-September, supported by consumer purchases ahead of a tax hike, the government said Thursday. It was the fourth straight quarter of expansion for the world’s third largest economy, but well below analysts’...

UK avoids recession but economy growing at near decade lows

Nov. 11, 2019 7:45 AM EST

LONDON (AP) — The British economy avoided falling into recession in the third quarter of the year, but annual growth is running at a near-decade low rate as a result of ongoing uncertainty related to Britain's departure from the European Union and a subdued global backdrop, official figures showed Monday....

UK parties attack rival spending plans in election feud

Nov. 10, 2019 9:11 AM EST

LONDON (AP) — Britain's biggest political parties traded allegations of financial recklessness on Sunday as they vied to win voters' trust on the economy ahead of the country's Dec. 12 election. The main opposition Labour Party accused the governing Conservatives of spreading fake news with an eye-catching...