Latest Government spending News

The Fed and ECB aim to avoid downturns but with limited ammo

Sep. 12, 2019 5:19 PM EDT

WASHINGTON (AP) — The Federal Reserve and the European Central Bank are struggling mightily to invigorate their economies at a time when growth is slowing, governments remain on the sidelines and the banks' usual stimulative tools appear less effective than in the past. On Thursday, the ECB delivered a...

US budget deficit for 11 months up $169 billion over 2018

Sep. 12, 2019 3:49 PM EDT

WASHINGTON (AP) — The U.S. government's budget deficit increased by $169 billion to $1.07 trillion in the first 11 months of this budget year as spending grew faster than tax collections. The Treasury Department reported Thursday that the deficit with just one month left in the budget year is up 18.8% over...

Democrats cry 'cowardice' as GOP overrides NC budget veto

Sep. 11, 2019 6:37 PM EDT

RALEIGH, N.C. (AP) — Republicans in control of a nearly half-empty North Carolina House chamber on Wednesday held an unexpected vote to override Gov. Roy Cooper's veto of the state budget bill, prompting accusations of trickery and deception from Cooper and fellow Democrats. Republican leaders had spent...

Ex-SC Gov. Sanford adds name to GOP long shots against Trump

Sep. 9, 2019 5:14 AM EDT

COLUMBIA, S.C. (AP) — Mark Sanford, the former South Carolina governor and congressman, joined the Republican race against President Donald Trump on Sunday, aiming to put his Appalachian trail travails behind him for good as he pursues an admittedly remote path to the presidency. "I am here to tell you now...

Saudi king replaces energy minister, naming one of his sons

Sep. 8, 2019 12:59 PM EDT

DUBAI, United Arab Emirates (AP) — Saudi Arabia's King Salman replaced the country's energy minister with one of his own sons Sunday, naming Prince Abdulaziz bin Salman to one of the most important positions in the country as oil prices remain below what is needed to keep up with government spending. The...

Fitch cuts Hong Kong credit rating, citing protests

Sep. 6, 2019 7:18 AM EDT

HONG KONG (AP) — The ratings agency Fitch on Friday cut Hong Kong's credit rating and warned that conflict with anti-government protesters was hurting the image of its business climate. Events in the Chinese territory have "inflicted long-lasting damage" to Hong Kong's image and "called into question the...

GOP Louisiana governor candidates try to show differences

Sep. 5, 2019 10:16 PM EDT

BATON ROUGE, La. (AP) — The two main Republican challengers to Louisiana Gov. John Bel Edwards on Thursday started drawing distinctions between their campaigns, with differing opinions on how to achieve the tax and spending changes they both say they want to enact. U.S. Rep. Ralph Abraham, a doctor and...

US construction spending rose a slight 0.1% in July

Sep. 3, 2019 10:04 AM EDT

WASHINGTON (AP) — U.S. construction spending ticked up just 0.1% in July, aided by government spending on schools, sewers and the water supply. The Commerce Department said Tuesday that spending on construction projects in July occurred at a seasonally adjusted annual pace of $1.29 trillion. So far this...

Global stocks mixed after US and China increase tariffs

Sep. 2, 2019 11:53 AM EDT

FRANKFURT, Germany (AP) — European stock markets drifted higher Monday while Asia was mixed after the U.S. and China escalated their war over trade and technology with new tariff increases. U.S. markets were closed for the Labor Day holiday, draining some of the energy from global trading. Benchmarks in...

Surveys show China manufacturing demand weak amid trade war

Sep. 2, 2019 2:05 AM EDT

BEIJING (AP) — Two surveys of Chinese manufacturing show demand is weak amid a mounting tariff war with Washington over trade and technology. A monthly purchasing managers' index released by a business magazine, Caixin, rose to 50.4 from July's 49.9 on a 100-point scale on which numbers above 50 show...