Government budget deficits

July 31, 2020 - 4:18 pm
WASHINGTON (AP) — Fitch has lowered the outlook for its U.S. government credit rating to “negative” from “stable” due to soaring budget deficits, but the agency is keeping its overall rating at the highest AAA level. Fitch said Friday that the downgraded outlook reflects the surge in government...
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FILE - In this April 16, 2020, file photo, a customer puts gold bars on basket for sell to a gold shop in Bangkok, Thailand. The price of gold surged more than $30 on Monday, July 27, 2020 to over $1,926 per ounce as investors step up buying of the precious metal often sought in times of uncertainty. Gold was trading at $1,926.20 by early afternoon in Asia, up 1.5%, after surging over the weekend. (AP Photo/Sakchai Lalit, File)
July 27, 2020 - 2:16 pm
Wall Street is in the throes of a gold rush, as investors drive the price of the precious metal to new heights. Gold has been the best investment of the year so far. The price of the precious metal has climbed nearly 27% this year, more than triple the return of the largest U.S. bond funds and...
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FILE - In this Thursday, June 18, 2020, file photo, a closed sign hangs in the door of The Market, a long-time restaurant and food store located in Larimer Square, that has closed because of the new coronavirus, in downtown Denver. State governments are pushing for help from Congress to fix budget gaps caused by the coronavirus pandemic and economic shutdowns. (AP Photo/David Zalubowski, File)
July 20, 2020 - 10:05 am
State governments trying to weather the financial storm brought on by the coronavirus are borrowing billions of dollars and desperately trying to slash costs by furloughing workers, delaying construction projects, cutting aid to schools and even closing highway rest areas. For many states, as well...
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Prime Minister Justin Trudeau arrives for a news conference on the COVID-19 pandemic outside his residence at Rideau Cottage in Ottawa, Thursday, June 18, 2020. (Justin Tang/The Canadian Press via AP)
July 08, 2020 - 1:40 pm
OTTAWA (AP) — The Canadian government is predicting a historic CDN$343 billion (US$254 billion) deficit for 2020-21 resulting from its economic and stimulus plans to battle COVID-19. The amount, included in a fiscal “snapshot” the Liberal government released Wednesday, is a huge jump from the CDN$...
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FILE - In this Dec. 9, 2019, file photo mist rolls over the U.S. Capitol dome on Capitol Hill in Washington. The federal government recorded a budget deficit of $1.88 trillion for the first eight months of 2020, larger than even any annual shortfalls in U.S. history. The sea of red ink grew as government spending shot up to deal with the coronavirus pandemic and tax revenue shrank when millions lost their jobs. (AP Photo/Patrick Semansky, File)
June 10, 2020 - 12:09 pm
WASHINGTON (AP) — The federal government recorded a budget deficit of $1.88 trillion for the first eight months of this budget year, larger than even any annual shortfalls in U.S. history. The sea of red ink grew as government spending shot up to deal with the coronavirus pandemic and tax revenue...
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First grade teachers, Ellie Morgan, 25, left, Hannah Sprayberry, 28, right, pose for a portrait, and say they are taking around 5 per-cent pay cut on Thursday, May 28, 2020, in Fort Oglethorpe, Ga. With sharp declines in state spending projected because of the economic fallout from the COVID-19 pandemic, America's more than 13,000 local school systems are wrestling with the likelihood of big budget cuts. (AP Photo/Brynn Anderson)
May 30, 2020 - 5:13 am
ATLANTA (AP) — It was during the Great Recession when Catoosa County first shortened its school year, from 180 to 175 instructional days, as it began years of furloughs due to budget cuts. As a result of the coronavirus pandemic, the next school year will be shorter still, with only 170 classroom...
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FILE - This Feb. 10, 2020, file photo shows slot machines at the Hard Rock casino in Atlantic City,N.J., that are controlled by gamblers over the internet. The coronavirus pandemic could lead to a quicker expansion of sports betting and internet gambling in the U.S. as states deal with huge budget deficits and look for new tax revenue wherever they can find it. (AP Photo/Wayne Parry, FIle)
Associated Press
May 29, 2020 - 9:12 am
ATLANTIC CITY, N.J. (AP) — The coronavirus pandemic could lead to a quicker expansion of sports betting and internet gambling in the U.S. as states deal with huge budget deficits and look for new tax revenue wherever they can find it. Most major sports remain shut down due to the virus, but...
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FILE - In this Feb. 20, 2020, file photo President Donald Trump arrives to speak at a campaign rally at The Broadmoor World Arena in Colorado Springs, Colo. As the economy faces a once-in-a-century recession, with more than 38 million people out of work, Trump is increasingly talking up a future recovery that probably won't materialize until after the November election. (AP Photo/Evan Vucci, File)
May 28, 2020 - 9:06 pm
WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration's anxiety about how the coronavirus has ravaged the nation just months before the election. The decision, which was confirmed...
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Emma Hamlet prepares orders received online to be picked up at the Long Beach Surf Shop store her family owns, Wednesday, May 27, 2020, in Long Beach, N.Y. Long Island has become the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it enters the first phase of the state's four-step reopening process. (AP Photo/Mary Altaffer)
May 27, 2020 - 2:18 pm
NEW YORK (AP) — Long Island became the latest region of New York to begin easing some restrictions put in place to curb the spread of the coronavirus. Gov. Andrew Cuomo lobbied the president for help with transportation projects. New York City Mayor Bill de Blasio said efforts to fight the virus...
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Gov. John Bel Edwards speaks Monday, May 11, 2020, at his media briefing on the state's COVID-19 response at the State Capitol in Baton Rouge, La., announcing that his stay-at-home directive will end with the Phase 1 reopening of the state on Friday, May 15. Dr. Alex Billioux, M.D., right, assistant secretary of health for the La. Dept. of Health's Office of Public Health, looks on. (Travis Spradling/The Advocate via AP, Pool)
May 16, 2020 - 6:55 pm
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: __ Venezuela sees its largest one-day virus increase...
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