Economic policy

FILE- In this May 30, 2018, file photo the East Front of the U.S. Capitol in Washington is seen under stormy skies. The federal government piled up a record deficit in April, traditionally a month of big budget surpluses. The sea of red ink is being created by a drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic. The Treasury Department said Tuesday, May 12, 2020 that the government racked up a shortfall of $737.9 billion last month. That was more than three times larger than the previous record monthly deficit of $235 billion set in February. (AP Photo/J. Scott Applewhite, File)
May 12, 2020 - 3:34 pm
WASHINGTON (AP) — The federal government piled up a record deficit in April, traditionally a month of big budget surpluses. The sea of red ink is being created by a drop in revenue and a massive increase in spending to fund efforts to deal with the coronavirus pandemic. The Treasury Department said...
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A United States Postal worker makes a delivery with gloves and a mask in Philadelphia, Thursday, April 2, 2020. The U.S. Postal Service is keeping post offices open but ensuring customers stay at least 6 feet (2 meters) apart. The agency said it is following guidance from public health experts, although there is no indication that the new coronavirus COVID-19 is being spread through the mail. (AP Photo/Matt Rourke)
May 12, 2020 - 3:28 pm
WASHINGTON (AP) — A new coronavirus aid package released Tuesday by House Democrats includes $25 billion for the cash-strapped U.S. Postal Service, which could run out of money by the end of September without a taxpayer bailout. Mail volume is down by more than 30% from last year because of the...
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FILE - In this April 2, 2019, file photo, Australian Treasurer Josh Frydenberg addresses the media as he arrives at Parliament House in Canberra, Australia. Treasurer Frydenberg said the country faces a “sobering” economic outlook due to the effects of the coronavirus and said it would have the largest deficit in its history when a revised budget is released in October. (AP Photo/Rod McGuirk, File)
May 12, 2020 - 3:41 am
CANBERRA, Australia (AP) — Australia's treasurer said Tuesday the country faces a “sobering” economic outlook due to the effects of the coronavirus and will have its largest-ever deficit when a revised budget is released in October. The 2020-21 federal budget was due to be released Tuesday. But the...
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May 11, 2020 - 6:45 pm
LAS VEGAS (AP) — Governors and legislative leaders from five western states that are coordinating their response to the coronavirus outbreak asked Congress on Monday to send $1 trillion to state and local governments across the U.S. in the next federal aid package. Officials from California,...
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FILE - In this March 7, 2020 file photo, a man walks past a banner showing Saudi King Salman, right, and his Crown Prince Mohammed bin Salman, outside a mall in Jiddah, Saudi Arabia. Saudi Arabia announced Monday, May 11, 2020, it is tripling taxes on basic goods to 15% and will cut spending on major projects by around $26 billion as it grapples with blows from the coronavirus pandemic and low oil prices on its economy. (AP Photo/Amr Nabil, File)
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May 11, 2020 - 2:47 pm
DUBAI, United Arab Emirates (AP) — Saudi Arabia announced Monday it was tripling taxes on basic goods, raising them to 15%, and cutting spending on major projects by around $26 billion as it grapples with blows from the coronavirus pandemic and low oil prices on its economy. Saudi citizens will...
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In this photo taken on Friday, May 1, 2020, doctor Ivan Venzhynovych, wearing special suit to protect against coronavirus, poses for a photo after morning examination patients with coronavirus at a hospital in Pochaiv, Ukraine. Ukraine's troubled health care system has been overwhelmed by COVID-19, even though it has reported a relatively low number of cases. (AP Photo/Evgeniy Maloletka)
May 11, 2020 - 5:53 am
CHERNIVTSI, Ukraine (AP) — Medical workers in homemade protective masks and suits, with plastic bags over their shoes. A hospital intended for 150 coronavirus patients now holding 250. A lack of filtration systems that forces autopsies to be done outside, under the trees, instead of in the hospital...
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FILE - In this Monday, April 6, 2020 file photo, chairs and tables are piled in front of a bar in St. Mark's Square, in Venice during a lockdown to prevent the spread of the coronavirus. The coronavirus outbreak is straining social safety nets across the globe - and underlining sharp differences in approach between wealthy societies such as the United States and Europe. In Europe, the collapse in business activity is triggering wage support programs that are keeping millions on the job, for now. (AP Photo/Andrew Medichini, File)
May 10, 2020 - 4:18 am
The coronavirus pandemic is straining social safety nets across the globe — and underlining sharp differences in approach between wealthy societies such as the United States and Europe. In Europe, the collapse in business activity is triggering wage support programs that are keeping millions on the...
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FILE - In this July 10, 2016, file photo, Simone Biles competes on the balance beam during the women's U.S. Olympic gymnastics trials in San Jose, Calif. At least 70 percent of U.S. Olympic sports organizations have applied for government loans in the coronavirus pandemic, underscoring the frailties within the world’s most dominant Olympic sports system. (AP Photo/Gregory Bull, File)
May 08, 2020 - 11:09 am
DENVER (AP) — At least 70 percent of U.S. Olympic sports organizations have applied for government funds during the coronavirus pandemic, a stark financial reality that underscores the frailties within the world’s most dominant Olympic sports system. The Associated Press surveyed 44 of the country'...
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May 08, 2020 - 4:40 am
BEIJING (AP) — U.S. and Chinese trade negotiators promised to create “favorable conditions” for carrying out a truce in their governments’ tariff war during a phone call Friday, an official Chinese news agency reported. The call followed a threat by President Donald Trump to pull out of the...
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FILE - In this file photo dated Wednesday, March 11, 2020, Pedestrians wearing face masks pass the Bank of England in London. In forecasts published Thursday May 7, 2020, The Bank of England has warned that the British economy could be nearly a third smaller by the end of the first half of this year as a result of the coronavirus pandemic, but also notes the economy could revive quickly. (AP Photo/Matt Dunham, FILE)
May 07, 2020 - 12:09 pm
LONDON (AP) — The Bank of England warned Thursday that the British economy could suffer its deepest annual contraction since the Spanish War of Succession a little over three centuries ago as a result of the coronavirus pandemic, before roaring back next year. In what it describes as a “plausible”...
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