Government debt

May 26, 2020 - 8:59 pm
SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances said Tuesday that the island could be hit with a deficit earlier than expected and see its surplus plunge by 65% in upcoming years, warning the government cannot afford to pay current debt obligations. The...
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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)
May 19, 2020 - 11:13 am
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...
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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)
The Associated Press
May 06, 2020 - 8:02 am
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...
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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)
The Associated Press
May 04, 2020 - 4:49 pm
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, $569...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve said Friday, April 24, it had $85.8 billion in loans outstanding last week in three of the programs it rolled out last month to protect the economy during the coronavirus pandemic.   (AP Photo/Jacquelyn Martin, File)
Talk 1370 Newsroom
April 29, 2020 - 5:05 pm
WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. Chairman Jerome Powell noted the gravity...
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A worker disinfects the roof terrace of the Atlantic hotel, in Rome, Wednesday, April 29, 2020. After seven weeks in lockdown to contain one of the world’s worst outbreaks of COVID-19, Italians are regaining some freedoms, starting on May 4, public parks and gardens will re-open and people will be able to visit relatives who live in the same region. (AP Photo/Andrew Medichini)
April 29, 2020 - 11:15 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the global economy, the work place and the spread of the virus. ________________________ CENTRAL GOVERNMENTS & BANKS: Countries are slowly trying to...
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Health workers wearing protective suits attend to a patient outside the Gat Andres Bonifacio Memorial Medical Center during an enhanced community quarantine to prevent the spread of the new coronavirus in Manila, Philippines on Monday April 27, 2020. (AP Photo/Aaron Favila)
April 27, 2020 - 3:32 am
BANGKOK (AP) — Thai health authorities on Monday reported the country’s lowest number of new cases of the coronavirus in more than six weeks, as the government considers easing some restrictions imposed to control the spread of the virus. Nine new confirmed cases were reported, the smallest single-...
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A station passageway is crowded with commuters wearing face mask during a rush hour in Tokyo Monday, April 27, 2020. Japan's Prime Minister Shinzo Abe expanded a state of emergency to all of Japan from just Tokyo and other urban areas as the virus continues to spread. (AP Photo/Eugene Hoshiko)
April 26, 2020 - 11:03 pm
TOKYO (AP) — Japan’s central bank is making it easier for cash-strapped companies to get funding in response to the growing economic devastation from the coronavirus pandemic. The Bank of Japan decided at a meeting Monday to ease monetary policy, including expanding the purchase of commercial...
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President Donald Trump signs a coronavirus aid package to direct funds to small businesses, hospitals, and testing, in the Oval Office of the White House, Friday, April 24, 2020, in Washington. Sen. Roy Blunt, R-Mo., left, and Jovita Carranza, administrator of the Small Business Administration look on. (AP Photo/Evan Vucci)
April 24, 2020 - 5:09 pm
WASHINGTON (AP) — Spend what it takes, Washington said as it confronted the coronavirus. Well over $2 trillion later, it’s unclear where that spending will end. One of the lasting legacies of the coronavirus pandemic will be staggering debts and deficits on the U.S. balance sheet, with shortfalls...
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FILE - In this March 25, 2020 file photo, a closed sign hangs in the window of a shop in Portsmouth, N.H., due to caronavirus concerns. The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to suport American households and businesses as well as local governments as they deal with the coronavirus. The Fed said Thursday, April 9, among the actions it is taking is the activation of a Main Street Lending Program that was authorized by the $2.3 trillion economic relief bill pass by Congress last month. (AP Photo/Charles Krupa, File)
April 09, 2020 - 2:05 pm
WASHINGTON (AP) — The Federal Reserve unleashed a new series of moves Thursday to try to make loans available to states, localities and companies that have been hard hit by the coronavirus. In doing so, the Fed will pump an additional $2.3 trillion into the U.S. economy. The central bank, in part,...
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