2020-09-22@22:44:27 GMT
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News about government spending:

    House Democrats are aiming for a vote Tuesday evening on legislation to avert a government shutdown after rekindling talks with Republicans and the Trump administration over disputed farm assistance. The House was originally slated to vote Tuesday afternoon on legislation advanced solely by Democrats, but multiple aides said those plans were temporarily put on hold...
    House Democrats may postpone a planned Tuesday vote on a bill to keep the government funded through Dec. 11 as talks resume with Republicans and the Trump administration over disputed farm assistance. Talks are currently ongoing over the aid for farmers impacted by the coronavirus pandemic as well as nutrition assistance for children in low-income...
    Senate Majority Leader Mitch McConnell slammed a government funding resolution drafted by House Democrats on Monday, leaving the United States vulnerable to a government shutdown weeks before the November election. The clock is ticking for the the U.S. Senate and Congress to agree on a new funding package with just nine days before it ends...
    Reuters September 21, 2020 0 Comments The U.S. Congress this week considers legislation to fund the federal government through mid-December, but a dispute over farm aid raised questions about whether lawmakers can avoid a government shutdown amid a pandemic just weeks before the Nov. 3 elections. With government funding lapsing on Sept. 30, House...
    The U.S. Congress this week considers legislation to fund the federal government through mid-December, but a dispute over farm aid raised questions about whether lawmakers can avoid a government shutdown amid a pandemic just weeks before the Nov. 3 elections.  With government funding lapsing on Sept. 30, House Democrats announced Monday they had filed the...
    Many arguing against aggressive stimulus spending from the federal government cite one critical reason: the national debt. Now totaling over $26.7 trillion, the U.S. debt-to-GDP ratio is one of the highest in the world. Top economics and policymakers, however, are not concerned.  When asked about the staggering number, Nobel laureate Esther Duflo told CNBC,...
    Congressional leaders and the White House struggled on Friday to finalize a stopgap spending bill to avert a government shutdown on Oct. 1. Lawmakers were aiming to reach a deal by midday Friday, but the House held a brief pro forma session at noon without any spending legislation filed. The main hangups include the expiration...
    House Democrats raised the prospect of President Trump shutting down the government if he loses the presidential election, according to a report on Tuesday. According to Politico’s Playbook morning newsletter, House Democrat leadership met on Capitol Hill for the first time in awhile on Monday evening and “began to confront” the question: “If DONALD TRUMP...
    By Hyonhee Shin and Josh Smith SEOUL (Reuters) - South Korean prosecutors on Monday indicted the former leader of an advocacy group for victims of Japanese wartime sexual exploitation on charges of fraud and embezzlement. Yoon Mee-hyang stepped down as head of the Korean Council for Justice and Remembrance for the Issues of Military Sexual...
    (Bloomberg Opinion) — In the U.K., Conservative party campaign ads often warn of “tax bombshells” about to be dropped by a profligate Labour party. Yet allies of Chancellor Rishi Sunak recently briefed the media about a Tory “tax bombshell” to pay for the billions splurged by the government during the Covid-19 crisis. An explosion duly followed...
    The US budget deficit has hit a record high of more than $3tn (£2.3tn), driven by the government's massive spending on coronavirus relief. The federal government spent more than $6tn in the first 11 months of its financial year, including $2tn on coronavirus programmes, the Treasury Department said. The figure outpaces the $3tn it took...
    By Elizabeth Piper LONDON (Reuters) - Britain will set out new details of its blueprint for life outside the European Union on Wednesday, publishing legislation a government minister acknowledged would break international law in a "limited way" and which could sour trade talks. After leaving the EU in January, Prime Minister Boris Johnson has pushed...
    Treasury Secretary Steven Mnuchin and Speaker Nancy Pelosi have “an informal agreement” to keep a stopgap government-wide funding bill at the end of September free of controversy or conflict. A source familiar with the talks said the White House envoy and the Democratic leader haven't agreed to a bill or to legislative text, but they both...
    You thought August was bad this year? Well, try September. Or worse yet, October. Halloween descends on the rest of the world at the end of October. ARE WHITE HOUSE, PELOSI RESUMING CORONAVIRUS STIMULUS TALKS? In Washington, D.C., the ghouls and goblins come out in late September. That’s because Sept. 30 is the annual deadline...
    WASHINGTON (AP) — U.S. construction spending edged up a tiny 0.1% in July, breaking a string of losses due to disruptions caused by the coronavirus pandemic. The Commerce Department reported that the slight July gain followed a 0.5% decline in June. In July, spending on residential construction rose a solid 2.1% while nonresidential construction fell...
    London (CNN Business)The world's top developed economies are all officially in a recession. What happens next is far from certain.On Friday, Canada joined France, Germany, Italy, Japan, the United Kingdom and the United States in reporting that its economy shrank dramatically in the first half of 2020 due to the pandemic. Canadian economic output shrank...
    WASHINGTON (AP) — U.S. consumers lifted their spending in May and June but businesses remained cautious because of the tremendous uncertainty surrounding the economic outlook, Federal Reserve officials said at a policy meeting last month. The nascent economic recovery faces several risks, Fed officials said in discussions during their most recent meeting on July...
    Son of Sweetie Pies owner charged in murder-for-hire plot to kill nephew CDC: Salmonella outbreak linked to onions expands Online Shopping Leads Recovery in U.K. Consumer Spending (Bloomberg) -- U.K. consumer spending jumped the most since 2016 last month, led by a surge in Internet purchases as bars and restaurants continued to suffer. ©...
    Shoppers are seen wearing masks while shopping at a Walmart store in Bradford, Pennsylvania, July 20, 2020.Brendan McDermid | Reuters Walmart's fiscal second-quarter sales got a boost from this spring's stimulus checks, but that tapered off in July as shoppers spent that money. Now, the retail giant is waiting to see if the government will...
    (Bloomberg) – Latin American local currency bonds tumbled as the deepening impact of the coronavirus pandemic tempts politicians to shed the last vestiges of fiscal restraint. As economies contract across the region, including a 19% drop in Mexico, pressure is mounting on leaders to expand spending and investment to fuel a recovery. Many investors fear...
    The nation's budget deficit swelled to a record $2.8 trillion in the first 10 months of the fiscal year, with the federal government on track to more than double the largest shortfall on record by the end of 2020.[ READ: Employers Added 1.8 Million Jobs in July ]The government added $63 billion to the deficit in July,...
    BUDAPEST, Hungary (AP) — Hungary signed a declaration of intent Wednesday to purchase air defense missiles from the United States for around $1 billion. The agreement was signed by Hungarian Defense Minister Tibor Benko and David Cornstein, the U.S. ambassador to Hungary. The U.S. Embassy described the deal as Hungary’s “largest-ever defense procurement from the...
    BUDAPEST, Hungary (AP) — Hungary signed a declaration of intent Wednesday to purchase air defense missiles from the United States for around $1 billion. The agreement was signed by Hungarian Defense Minister Tibor Benko and David Cornstein, the U.S. ambassador to Hungary. The U.S. Embassy described the deal as Hungary’s “largest-ever defense procurement...
    by Steven Pressman, Colorado State University French philosopher Voltaire famously quipped: “If God did not exist, it would be necessary to invent him.” Something similar can be said of modern monetary theory, also known as MMT, because it may be the economy’s only hope to get through the pandemic. Coined by Australian economist Bill Mitchell...
    Congressional Republicans should apologize to former President Barack Obama "for complaining that he was spending and borrowing too much," Sen. Rand Paul, R-Ky., told "Your World" Wednesday. "It's funny that people say, 'Well, Washington Republicans and Democrats never compromise and can't get along.' That's actually the opposite of the truth," Paul told host Neil Cavuto....
    Monday on Fox News Channel’s “America’s Newsroom,” Sen. John Barrasso (R-WY) reacted to House Speaker Nancy Pelosi’s (D-CA) proposed spending in the negotiations for the next coronavirus stimulus relief package. Barrasso said Pelosi is proposing “truly runaway government spending not aimed at coronavirus” and “living on fantasy island” by wanting to give direct checks to...
    A rare bird thought to be headed toward extinction has been spotted in Washington, D.C.: the deficit hawk. Fiscal conservatives are balking at the price tag of the latest coronavirus economic rescue package, likely to exceed $1 trillion even if they get their way. Though only one of the sticking points that has held up...
    WASHINGTON — The U.S. economy shrank at a dizzying 32.9% annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%, the government said Thursday. The Commerce Department’s estimate of the...
    Federal spending is growing. The national debt is growing. In 2000, federal spending was $1.79 trillion. In 2010, it rose to $3.46 trillion. This year it will go higher than $4.8 trillion. The federal debt in the same 20 years grew from $5.6 trillion in 2000 to $26 trillion this year. If changes are not...
    PROGRAMMING ALERT: Watch Brian Brenberg discuss this topic and more on “Fox & Friends” at 6:45 a.m. EDT Saturday, July 25 on Fox News Channel.As Congress prepares to pass a fifth coronavirus stimulus bill in as many months, we are at risk of turning what was supposed to be temporary government relief into a top-down reinvention...
    By Steve Scherer OTTAWA (Reuters) - Canadian Prime Minister Justin Trudeau's third ethics probe in as many years will bring greater parliamentary scrutiny to his government's COVID-19 spending, analysts said on Tuesday, as polls showed him losing gains made while managing the pandemic. Trudeau's Liberal Party was soaring in polls earlier this month after having...
    An A.I. bot answers 10 burning questions about the 2020 NFL season Princess Beatrice Has a New Royal Title After Her Surprise Wedding to Edoardo Mapelli Mozzi Rising coronavirus cases threaten U.S. economic rebound Rising coronavirus infections across dozens of states are threatening the U.S. economic recovery, forcing businesses and consumers to freeze spending...
    Following massive spending to help cushion the economic blow of coronavirus-related lockdowns, the United States government posted the single largest deficit in history in June, an $864 billion budget shortfall. The total for 2020 so far also exceeds previous nine-month periods, with the United States posting an astounding $2.74 trillion shortfall for the first three...
    WASHINGTON -- The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues.The Treasury Department reported Monday that the deficit hit $864 billion last month, an amount of red ink that surpasses most annual...
    By Martin Crutsinger | Associated Press WASHINGTON — The federal government incurred the biggest monthly budget deficit in history in June as spending on programs to combat the coronavirus recession exploded while millions of job losses cut into tax revenues. The Treasury Department reported Monday that the deficit hit $864 billion last month, an amount...
    Former vice president Joe Biden plans to reveal a multi-billion dollar plan, “The Buy American Campaign,” that aims to shore up American manufacturing and invest in technologies such as 5G cellular networks and electric vehicles, The New York Times reported. The plan is intended to challenge incumbent President Donald Trump on economic policy. The keystone...
    Consumer borrowing fell at a much slower pace in May after an enormous decline in April. Consumer borrowing declined at a 5.3 percent annual pace in May, compared with the 20 percent decline the prior month, according to Federal Reserve data released Wednesday. Revolving credit, mostly credit cards, fell at an annual rate of 28.6...
    OTTAWA (AP) — The Canadian government is predicting a historic CDN$343 billion (US$254 billion) deficit for 2020-21 resulting from its economic and stimulus plans to battle COVID-19. The amount, included in a fiscal “snapshot” the Liberal government released Wednesday, is a huge jump from the CDN$28 billion (US$20.8 billion) deficit projected prior to the pandemic....
    OTTAWA (AP) — The Canadian government is predicting a historic CDN$343 billion (US$254 billion) deficit for 2020-21 resulting from its economic and stimulus plans to battle COVID-19. The amount, included in a fiscal “snapshot” the Liberal government released Wednesday, is a huge jump from the CDN$28 billion (US$20.8 billion) deficit projected prior to the pandemic....
    House Democrats on Monday took aim at President TrumpDonald John TrumpTrump second-term plans remain a mystery to GOP Trump to hold outdoor rally in New Hampshire on Saturday Eighty-eight years of debt pieties MORE's policies on a slew of political issues as they kicked off the official appropriations process to fund the government for the...
    A bill Louisiana lawmakers approved this year is meant to slow the growth of state spending in the years to come. It also could lead to some interesting political showdowns. For decades, Louisiana has had an expenditure limit that puts a cap on state spending, at least in theory. Each fiscal year, a new...