WASHINGTON — The Treasury Department on Monday released the names of more than 650,000 small businesses that received funds from a government program intended to support the economy as states shut down in April to contain the viral outbreak. Treasury identified just a fraction of the total borrowers, naming only those companies...
Treasury Proposal: Deliver $500B to Americans Starting April
WASHINGTON — The Treasury Department said Wednesday it wants to start issuing direct payments to Americans by early next month as the centerpiece of a $1 trillion plan to stabilize the economy as the coronavirus epidemic threatens a body slam to taxpayers and businesses. In a memorandum, Treasury proposed two $250 billion...
US Budget Deficit Running 11.8% Higher This Year
The U.S. budget deficit through the first three months of this budget year is up 11.8% from the same period a year ago, putting the country on track to record its first $1 trillion deficit in eight years. In its monthly budget report, the Treasury Department said Monday that the...
Treasury Unveils Plans to Privatize Fannie Mae, Freddie Mac
WASHINGTON — The Trump administration has unveiled its plan for ending government control of Fannie Mae and Freddie Mac, the two giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at a total cost to taxpayers of $187 billion. The administration's...
Can You Believe It? National Debt Now $22 Trillion.
WASHINGTON — The national debt has passed a milestone, topping $22 trillion for the first time. The Treasury Department's daily statement showed Tuesday that total outstanding public debt stands at $22.01 trillion. It stood at $19.95 trillion when President Donald Trump took office on Jan. 20, 2017. The debt figure...