Latest Government spending News

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, Aug. 5, 2020. Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. (AP Photo/Vincent Yu)

Asia shares mixed amid jitters over US stimulus, China trade

Aug. 5, 2020 1:19 AM EDT

BEIJING (AP) — Asian stock markets were mixed Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. Shanghai and Hong Kong advanced while Tokyo and Sydney retreated. Gold, which has set a string of records, rose again after a deadly explosion in Beirut. Investors...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, Aug. 5, 2020. Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. (AP Photo/Vincent Yu)

Asian shares fall on jitters over US stimulus, China trade

Aug. 4, 2020 11:43 PM EDT

BEIJING (AP) — Major Asian stock markets declined Wednesday amid investor concern about U.S. stimulus spending and a trade agreement with Beijing. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney declined. Investors are watching the stalemate among U.S. legislators over employment benefits for...

FILE - In this Dec. 14, 2018, file photo, then Wisconsin Gov. Scott Walker speaks during a news conference in Green Bay, Wis. The conservative-controlled Wisconsin Supreme Court on Friday, July 10, 2020, overturned three of four partial budget vetoes issued by Democratic Gov. Tony Evers, bucking decades of court precedent that upheld the governor's broad veto powers. However, the justices also upheld one of Evers' vetoes and declined to consider a challenge to a pair of partial vetoes issued by Republican Gov. Scott Walker in 2017, saying the 2019 lawsuit was filed too late. (Jim Matthews/The Green Bay Press-Gazette via AP File)

Budget hawks hatch plan to force constitutional convention

Jul. 31, 2020 11:14 AM EDT

WASHINGTON (AP) — GOP activists want to trigger a constitutional convention with the goal of enacting a federal balanced budget amendment, potentially requiring massive cuts to government spending. Critics warned a convention could decide to take on topics beyond a balanced budget and propose other big...

A shopper passes a display window with mask covered mannequins at a dress store, Thursday, July 30, 2020, in McAllen, Texas. (AP Photo/Eric Gay)

Record economic plunge, bleak jobs numbers reveal virus toll

Jul. 30, 2020 5:37 PM EDT

WASHINGTON (AP) — The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating. The economy's collapse in...

Government revisions show slightly slower 2019 GDP growth

Jul. 30, 2020 11:55 AM EDT

WASHINGTON (AP) — The government says the U.S economy grew a bit more slowly last year than it had previously estimated and slightly faster in 2018. Those changes emerged Thursday in the government's annual revisions to its estimates of the gross domestic product, the economy's total output of goods and...

FILE - In this July 13, 2020 file photo, a For Rent sign hangs on a closed shop during the coronavirus pandemic in Miami Beach, Fla.  Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about the likelihood of any sustained recovery the rest of the year. (AP Photo/Lynne Sladky)

US is expected to report a record-breaking economic plunge

Jul. 29, 2020 2:33 PM EDT

WASHINGTON (AP) — Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year. A huge plunge in consumer spending as people stayed home and avoided shopping,...

House Speaker Nancy Pelosi of Calif., left, and Senate Minority Leader Sen. Chuck Schumer of N.Y., speak to the media, Tuesday, July 28, 2020, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)

Democrats, GOP far apart on virus aid; Trump wants a deal

Jul. 28, 2020 7:25 PM EDT

WASHINGTON (AP) — A day of shuttle diplomacy on Capitol Hill over a coronavirus aid package produced few results Tuesday, with stark differences between the $3 trillion proposal from Democrats and $1 trillion counteroffer from Republicans as millions of Americans' jobless benefits, school reopenings and...

FILE - In this April 22, 1952 file photo a gigantic pillar of smoke with the familiar mushroom top climbs above Yucca Flat, Nev. during nuclear test detonation. A defense spending bill pending in Congress includes an apology to New Mexico, Nevada, Utah and other states affected by nuclear testing over the decades, but communities downwind from the first atomic test in 1945 are still holding out for compensation amid rumblings about the potential for the U.S. to resume nuclear testing. (AP Photo,File)

Groups push to remove proposed funding for nuclear testing

Jul. 24, 2020 7:10 PM EDT

ALBUQUERQUE, N.M. (AP) — Deep within a multibillion-dollar defense spending measure pending in Congress is an apology to New Mexico, Nevada, Utah and other states affected by radiation from nuclear testing over the decades. But communities downwind from the first atomic test in the New Mexico desert on...

House Speaker Nancy Pelosi of Calif., accompanied by Rep. Dan Kildee, D-Mich., left, and Rep. Danny Davis, D-Ill., right, speaks at a news conference on Capitol Hill in Washington, Friday, July 24, 2020, on the extension of federal unemployment benefits. (AP Photo/Andrew Harnik)

Despite COVID crisis, Congress seeks to do its day job

Jul. 24, 2020 2:59 PM EDT

WASHINGTON (AP) — Even as lawmakers stumble in their quest to pass another coronavirus response measure, both the House and Senate sought to return to some semblance of normal business this week, passing annual must-do measures on spending and defense policy despite the challenges of legislating during a...

Australian Treasurer Josh Frydenberg addresses the media during a federal budget update ahead of the 2020/21 budget scheduled for October, at Parliament House in Canberra, Thursday, July 23, 2020. Australia’s response to the coronavirus pandemic tipped the government’s budget AU$85.8 billion ($61 billion) into the red in the last fiscal year and will create AU$184 billion ($131 billion) more debt in the current year which would be the nation’s biggest deficit since World War II, treasury figures showed on Thursday. (Lukas Coch/AAP Image via AP)

Pandemic to cost Australia government $131 billion this year

Jul. 23, 2020 3:35 AM EDT

CANBERRA, Australia (AP) — Australia’s response to the coronavirus pandemic tipped the government’s budget 85.8 billion Australian dollars ($61 billion) into the red in the last fiscal year and will create AU$184 billion ($131 billion) more debt in the current year which would be the...