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U.S. economy shrank at 5% annual rate in Q1

WASHINGTON (AP) – The United States economy shrank at an even faster pace than initially estimated in the first three months of this year...
U.S. GDP declined at a 4.8% annual rate in the first quarter and the CBO projects an annualized decline of 40% in the second quarter due to COVID-19 related shutdowns. / AP FILE PHOTO DAVE KOLPACK

U.S. economy shrank at 4.8% rate last quarter as virus struck

WASHINGTON (AP) – The United States economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the...
THE CBO has projected a $3.7 trillion U.S. budget deficit due to the economic impact of COVID-19 as well as spending related to the pandemic. / SUSAN WALSH

CBO says deficit to reach $3.7 trillion in economic decline

WASHINGTON (AP) – A recession caused by the coronavirus pandemic and a government spending spree on testing, health care and aid to businesses and households...
U.S. SPENDING on health care increased 4.6% year over year to a total of $3.6 trillion in 2018. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER

Opinion: Now for the bad news: Medicare costs are accelerating

As debates rage over the cost of United States health care, Medicare’s actuaries have issued a new report. In 2018, overall national spending on...
THE U.S. BUDGET deficit has exceeded $1 trillion for the first 11 months of the fiscal year, but may lower by fiscal year's end. / BLOOMBERG FILE PHOTO/ANDREW HARRER

U.S. posts $1T budget gap, full-year may be lower

WASHINGTON – The United States budget deficit surpassed $1 trillion in the first 11 months of the fiscal year through August, according to data...
THE U.S. BUDGET DEFICIT is projected to exceed $1 trillion by fiscal 2020. / BLOOMBERG FILE PHOTO/ANDREW HARRER

U.S. budget gap set to top $1T in FY2020, two years...

WASHINGTON – The United States budget deficit is set to widen to $1 trillion by fiscal year 2020, two years sooner than previously estimated,...
THE CONGRESSIONAL BUDGET OFFICE estimated that the five-week partial federal shutdown will have cost the United States economy $3 billion. / BLOOMBERG NEWS FILE PHOTO/AL DRAGO

CBO sees Trump shutdown as an economic blip totaling $3B

NEW YORK - The five-week partial shutdown of the United States government will ultimately cost the world’s biggest economy just $3 billion, though the...
THE UNITED STATES budget deficit increased to $898 billion in the 11 months through August. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

U.S. budget deficit swells to $898B, topping forecast

NEW YORK - The United States budget deficit widened to $898 billion in the 11 months through August, exceeding the Congressional Budget Office’s forecast...
THE CONGRESSIONAL BUDGET OFFICE has estimated that the United States budget deficit will surpass $1 trillion by 2020. / BLOOMBERG FILE PHOTO/ANDREW HARRER

U.S. budget deficit to balloon to $1 trillion by 2020, CBO...

NEW YORK - The United States budget deficit will surpass $1 trillion by 2020, two years sooner than previously estimated, as tax cuts and...
THE SENATE GOP has revived its effort to repeal the Affordable Care Act but it running out of time to pass the measure with a simple majority. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Senate GOP has 12 days to repeal ACA and no room...

NEW YORK - Senate Republicans making one last-ditch effort to repeal the Affordable Care Act have the daunting task of assembling 50 votes for...

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