Latest Government debt News

Editorial Roundup: US

May. 20, 2020 2:01 PM EDT

Excerpts from recent editorials in the United States and abroad: ___ May 19 The Washington Post on Education Secretary Betsy DeVos' plan on governing how schools and colleges handle sexual harassment and assault accusations: Education Secretary Betsy DeVos’s long-planned overhaul of regulations governing...

German Chancellor Angela Merkel speaks during a press conference following a joint video conference with French President Macron in Berlin, Germany, Monday, May 18, 2020. One topic was the Corona Pandemic and its consequences. (Kay Nietfeld/dpa via AP)

Germany breaks taboo in effort to get EU through pandemic

May. 19, 2020 12:13 PM EDT

FRANKFURT, Germany (AP) — Germany’s agreement to share debt with other EU countries to finance an economic recovery plan is being greeted as a political breakththrough and an overdue sign of unity in the face of the worst downturn the bloc has ever seen. Chancellor Angela Merkel broke with her...

In this Friday, May 8, 2020 photo, people look out at the Burj Khalifa, the world's tallest building, at sunset in Dubai, United Arab Emirates. Dubai built a city on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide. Now, with events cancelled, flights grounded and investment halted, this sheikhdom in the UAE faces both the threat of the coronavirus and a growing economic crisis. (AP Photo/Jon Gambrell)

Built for a global economy, Dubai now threatened by virus

May. 13, 2020 1:10 PM EDT

DUBAI, United Arab Emirates (AP) — Dubai built a city of skyscrapers and artificial archipelagos on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide — all things that have been disrupted by the coronavirus pandemic. Now, with...

In this April 3, 2020, photo, a man wearing a face mask due to COVID-19 concerns stands outside a check cashing service center in the Brooklyn borough of New York. While millions of U.S. workers have already received a quick relief payment from the federal treasury through direct deposit, millions of others without traditional bank accounts must wait weeks for paper checks. Advocates for the poor say this is an opportunity to get many of those who are unbanked into the formal financial system. (AP Photo/Bebeto Matthews)

A 20-year Treasury bond; part of $2.99 trillion borrowing

May. 6, 2020 10:54 AM EDT

WASHINGTON (AP) — The Treasury Department is detailing how it plans to borrow a record-breaking $2.99 trillion in debt this quarter which will include issuing for the first time since 1986 a 20-year bond. The Treasury faces an unprecedented need for credit because of the trillions of dollars the government...

A man walks by the Euro sculpture in front of the old the European Central Bank in Frankfurt, Germany, Tuesday, May 5, 2020. Germany's Constitutional Court has ruled that the country's central bank must stop participating in a key European Central Bank stimulus program but gave the ECB time to demonstrate that the stimulus program is needed and appropriate. (AP Photo/Michael Probst)

German court asks ECB to justify key stimulus program

May. 5, 2020 2:31 PM EDT

FRANKFURT, Germany (AP) — Germany's highest court cast doubt on key eurozone stimulus efforts by giving the European Central Bank three months to prove that its key bond-buying program is justified and appropriate. If it doesn't make that showing, the court ruled, Germany's own national central bank can...

This Sept. 18, 2019 photo shows the U.S. Treasury Department building viewed from the Washington Monument in Washington. The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday, May 4, 2020 that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis. The extraordinary sum of $2.99 trillion of borrowing in a single quarter dwarfs the $1.28 trillion the government borrowed in the bond market for all of 2019. (AP Photo/Patrick Semansky)

As US piles up debt to aid economy, even usual critics cheer

May. 5, 2020 2:05 PM EDT

WASHINGTON (AP) — The U.S. government has opened the spigots and let loose nearly $3 trillion to try to rescue the economy from the coronavirus outbreak — a river of debt that would have been unthinkable even a few months ago. And yet the response, even from people who built careers as skeptics of...

This Sept. 18, 2019 photo shows the U.S. Treasury Department building viewed from the Washington Monument in Washington. The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday, May 4, 2020 that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis. The extraordinary sum of $2.99 trillion of borrowing in a single quarter dwarfs the $1.28 trillion the government borrowed in the bond market for all of 2019. (AP Photo/Patrick Semansky)

Treasury says April-June borrowing will be a record $2.99T

May. 4, 2020 5:49 PM EDT

WASHINGTON (AP) — The economic paralysis triggered by the coronavirus pandemic is forcing the U.S. Treasury to borrow far more than it ever has before — $2.99 trillion in the current quarter alone. The amount is more than five times the government’s previous record borrowing for a quarter,...

A Lebanese army soldier throws a tear gas canister towards anti-government protesters in the northern city of Tripoli, Lebanon, Tuesday, April 28, 2020. Hundreds took part in the funeral of a young man killed in riots overnight in Tripoli that were triggered by the crash of Lebanon's national currency that sent food prices soaring. (AP Photo/Bilal Hussein)

Lebanese PM says Cabinet will seek IMF financial assistance

Apr. 30, 2020 3:17 PM EDT

BEIRUT (AP) — Lebanon will seek a rescue deal from the International Monetary Fund after the government endorsed a five-year recovery plan to help the nation find a away out of an unprecedented financial crisis, the country's prime minister said Thursday. Hassan Diab described the plan, which was adopted...

In this Wednesday, April 29, 2020 photo a man walks in front of the European Central Bank in Frankfurt, Germany. The European economy shrank by 3.8% in the first quarter, the most since records began, as business activity was frozen by shutdowns aimed at preventing the spread of the coronavirus. It was the biggest drop since statistics started in 1995 and bigger than the plunge in the midst of the global financial crisis in the first quarter of 2009 after the bankruptcy of U.S. investment bank Lehman Brothers. (AP Photo/Michael Probst)

With European economy in record drop, central bank gives aid

Apr. 30, 2020 9:58 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank is stepping up its efforts to cushion the economy against a record downturn that the bank's president, Christine Lagarde, said was “of a magnitude and speed that are unprecedented in peacetime.” The monetary authority for the 19 countries...

New York City police officers stand by at the Andrew T. Cleckley Funeral Home in the Brooklyn borough of New York, Wednesday, April 29, 2020. Police responded to a report of human bodies in vehicles, which they determined were connected to the nearby funeral home. The New York Police Department notified the state Department of Health, which oversees funeral homes. The coronavirus pandemic has overrun most funeral homes and morgues in New York City. (AP Photo/Craig Ruttle)

The Latest: India touts gains in curbing virus with lockdown

Apr. 30, 2020 1:04 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — India touts gains in curbing virus with lockdown, may relax...