WASHINGTON (AP) -- The Congressional Budget Office says the U.S. economy will grow by just 1.5 percent this year - hurt by a poor first-quarter performance.<br />
This new assessment is considerably more pessimistic than the Obama administration's.<br />
Last month, the administration predicted that the economy would grow 2.6 percent this year.<br />
The CBO says the economy should grow by 3.4 percent over 2015 and 2016, and predicts that the unemployment rate will remain below 6 percent into the future.<br />
The economy unexpectedly contracted over the first quarter of the year, in part because of an unusually harsh winter.<br />
The CBO also projects that the government will run a deficit of $506 billion for the budget year ending Sept. 30.
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
The United States and Cuba will sign an agreement next week to resume commercial air traffic for the first time in five decades, starting the clock on dozens of new flights operating daily by next fall, U.S. officials said Friday.
WASHINGTON (AP) — New details about the possible effects of the Zika virus on the fetal brain emerged Wednesday as U.S. health officials say mosquito eradication here and abroad is key to protect preg...
WASHINGTON (AP) — President Barack Obama is asking Congress for more than $1.8 billion in emergency funding to fight the Zika virus and the mosquitoes that spread it here and abroad, but says "there s...
A weeklong search for a Missouri couple wanted in a series of robberies and abductions across the South ended with one suspect dead and the other wounded Friday, after authorities say they chased the pair across the highway and through a rural neighborhood and exchanged gunfire with them in Florida's Panhandle.
Cheap oil will be sticking around for a while.That reality is wreaking havoc and causing uncertainty for some governments and businesses, while creating financial windfalls for others. Less expensive...