Latest Government spending News

US budget deficit for current year hits record $2.1 trillion

Jun. 10, 2021 16:08 PM EDT

WASHINGTON (AP) — The U.S. budget deficit hit a record $2.06 trillion through the first eight months of this budget year as coronavirus relief programs drove spending to all-time highs. The shortfall this year is 9.7% higher than the $1.88 trillion deficit run up over...

NC Republicans finally agree on next year's spending total

Jun. 08, 2021 23:32 PM EDT

RALEIGH, N.C. (AP) — Republicans in the North Carolina legislature have finally agreed on how much they want to spend on state government next year, loosening a fiscal knot that delayed House and Senate budget work for weeks. GOP leaders in the two chambers have set...

Mexico president appears to hold key majority in elections

Jun. 07, 2021 15:46 PM EDT

MEXICO CITY (AP) — President Andrés Manuel López Obrador’s party and its allies on Monday appeared poised to maintain their majority in Mexico's lower chamber of the congress, but fell short of a two-thirds majority as some voters boosted the struggling opposition, according to initial...

Biden says jobs report bolsters case for government spending

Jun. 05, 2021 00:44 AM EDT

President Joe Biden portrayed the May jobs report as a jumping off point for more spending on infrastructure and education to keep growth going — essentially an argument for his agenda. But the employment numbers issued Friday also hinted at the possible limits of how much government aid...

Biden says jobs report bolsters case for government spending

Jun. 04, 2021 16:38 PM EDT

President Joe Biden portrayed the May jobs report as a jumping off point for more spending on infrastructure and education to keep growth going — essentially an argument for his agenda. But the employment numbers issued Friday also hinted at the possible limits of how much government aid...

NC Republicans threaten different avenues on framing budget

Jun. 03, 2021 18:38 PM EDT

RALEIGH, N.C. (AP) — North Carolina House and Senate Republicans still unable to settle on a dollar figure for spending threatened on Thursday to go their separate ways on how to develop a state government budget. GOP leaders in the two chambers remain well apart on a...

Forecast: Global economy rebounding, faces multiple threats

May. 31, 2021 07:42 AM EDT

FRANKFURT, Germany (AP) — The global economic rebound from the pandemic has picked up speed but remains uneven across countries and faces multiple headwinds. Most worrisome: the lack of vaccines in poorer nations, which could lead to new virus variants and more stop-and-go lockdowns. ...

Louisiana Senate releases $37B budget proposal for next year

May. 24, 2021 19:07 PM EDT

BATON ROUGE, La. (AP) — Louisiana state senators Monday unveiled their version of a $37 billion state operating budget that includes millions of dollars in new spending on education programs, pay raises and legislative pet projects. The Senate's proposed spending...

Biden plan would pick winners, losers in move to green jobs

May. 18, 2021 00:03 AM EDT

WASHINGTON (AP) — In Georgia, school bus-maker Blue Bird has visions of going from selling a few hundred electric buses annually to 15,000. In Michigan, Ford plans to produce an all-electric version of its F-150 pickup truck. Both companies are looking to President Joe...

Japan's economy shrinks 5.1% as pandemic dries up spending

May. 17, 2021 21:38 PM EDT

TOKYO (AP) — The Japanese economy contracted at an annual rate of 5.1% in January-March, slammed by a plunge in spending over the coronavirus pandemic, according to government data released Tuesday. The Cabinet Office’s preliminary seasonally adjusted GDP, or gross...