Latest Government spending News

German economy shrinks, casting shadow over European growth

Aug. 14, 2019 10:30 AM EDT

FRANKFURT, Germany (AP) — Germany's economy shrank by 0.1 percent in the second quarter as global trade conflicts and troubles in the auto industry held back the largest member of the 19-country euro currency union. The weak performance darkened prospects for the entire eurozone, where the European Central...

US construction spending drops 1.3% in June

Aug. 1, 2019 10:21 AM EDT

WASHINGTON (AP) — Spending on U.S. construction projects fell in June by the largest amount in seven months, reflecting weakness in home building, nonresidential construction and the largest drop in government projects in 17 years. The Commerce Department said Thursday that spending fell 1.3% in June. It...

Missing Trump's 3% goal, US economy grew more slowly in 2018

Jul. 26, 2019 9:42 AM EDT

WASHINGTON (AP) — The government says the U.S. economy grew more slowly in 2018 than it previously estimated, downgrading its estimate from 3% to 2.5%. President Donald Trump had frequently boasted of the 3% growth figure as evidence that his policies invigorated the economy. The Commerce Department...

The Latest: Draghi warns some euro states need to spend more

Jul. 25, 2019 9:25 AM EDT

FRANKFURT, Germany (AP) — The Latest on the European Central Bank's monetary policy meeting (all times local): 3:25 p.m. European Central Bank President Mario Draghi says that euro member countries need to be ready to use government spending to help support the economy. Draghi said Thursday that if the...

US economy dodges the threat of painful spending cuts

Jul. 24, 2019 12:06 AM EDT

WASHINGTON (AP) — The budget agreement that congressional leaders and President Donald Trump forged late Monday lifted a big potential drag on the U.S. economy for this year and next. Under the agreement, the economy was spared from a series of deep spending cuts that were set to take effect under a...

Analysis: Budget deal is epitaph for bid to control spending

Jul. 23, 2019 9:10 PM EDT

WASHINGTON (AP) — Eight years ago, Washington's power players reluctantly sealed a pact to curtail federal spending and the debt. Now, with help from President Donald Trump, they are writing its epitaph. The budget deal reached this week by Trump, Speaker Nancy Pelosi and Republican leaders represents the...

US economy dodges the threat of painful spending cuts

Jul. 23, 2019 7:00 PM EDT

WASHINGTON (AP) — The budget agreement that congressional leaders and President Donald Trump forged late Monday lifted a big potential drag on the U.S. economy for this year and next. Under the agreement, the economy was spared from a series of deep spending cuts that were set to take effect under a...

Could coastal mansions become eligible for disaster aid?

Jul. 21, 2019 8:15 PM EDT

OLD SAYBROOK, Conn. (AP) — On an exclusive Connecticut peninsula, where signs warn outsiders to stay off private roads, eight multimillion-dollar homes with sprawling yards along the Long Island Sound are poised to become eligible for taxpayer-funded disaster aid. That's despite the fact that the Fenwick...

Panel orders federal judge to reconsider Trump appeal

Jul. 19, 2019 8:31 PM EDT

WASHINGTON (AP) — An appeals court on Friday ordered a federal judge to reconsider letting Justice Department lawyers immediately appeal a case that accuses President Donald Trump of profiting off the presidency. The three-judge panel for the U.S. Court of Appeals for the District of Columbia Circuit...

Blackface scandal dampens Virginia governor's fundraising

Jul. 16, 2019 4:23 PM EDT

RICHMOND, Va. (AP) — Virginia Gov. Ralph Northam is struggling to raise big money in a key election year after a blackface scandal nearly ended his political career. But he's also managed to remain a major source of campaign cash for Democrats, including those who have previously called on him to resign....