Latest Government spending News

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...

Election official rejects effort to recall Alaska governor

Nov. 4, 2019 8:22 PM EST

JUNEAU, Alaska (AP) — Supporters of an effort to recall Alaska Gov. Mike Dunleavy vowed to take their fight to court after an election official on Monday rejected their bid to move forward with seeking to oust him from office. Division of Elections Director Gail Fenumiai said she based her decision on...

US economy grows at modest 1.9% rate in third quarter

Oct. 30, 2019 4:43 PM EDT

WASHINGTON (AP) — The U.S. economy slowed to a modest growth rate of 1.9% in the summer as consumer spending downshifted and businesses continued to trim their investments in response to trade war uncertainty and a weakening global economy. The Commerce Department reported Wednesday that the July-September...

US deficit hits nearly $1 trillion. When will it matter?

Oct. 25, 2019 7:08 PM EDT

WASHINGTON (AP) — The Trump administration reported a river of red ink Friday. The federal deficit for the 2019 budget year surged 26% from 2018 to $984.4 billion — its highest point in seven years. The gap is widely expected to top $1 trillion in the current budget year and likely remain there for...

Brazil Congress passes landmark overhaul of pension system

Oct. 22, 2019 10:45 PM EDT

SAO PAULO (AP) — The Senate gave final congressional approval Tuesday to an overhaul of Brazil's pension system, capping years of stalled efforts to sway public opinion and rein in unsustainable government spending on retirement. The Senate voted 60-19 to adopt changes for civil servants and private-sector...

Finance officials pledge to combat global economic slowdown

Oct. 19, 2019 3:42 PM EDT

WASHINGTON (AP) — Global finance officials wrapped up their fall meetings on Saturday with a pledge to "employ all appropriate tools" to combat the weakest global growth in a decade, but there was little evidence of progress in easing trade tensions, a major source of the slowdown. The policy-setting...

China's economic slowdown deepens, weighing on global growth

Oct. 18, 2019 11:05 AM EDT

BEIJING (AP) — China's economic growth sank to a new multi-decade low in the latest quarter as a trade war with the U.S. deepened a slump that is weighing on the global economy. Growth in the world's second-largest economy slipped to 6% in the three months ending in September, down from the previous...