On drug costs, modest steps follow Trump's big promises

WASHINGTON (AP) — President Donald Trump makes big promises to reduce prescription drug costs, but his administration is gravitating to relatively modest steps such as letting Medicare patients share in manufacturer rebates.

  • Written by By RICARDO ALONSO-ZALDIVAR and MATTHEW PERRONE , Associated Press

A budget the likes of which the Pentagon has never seen

WASHINGTON (AP) — It's the biggest budget the Pentagon has ever seen: $700 billion. That's far more in defense spending than America's two nearest competitors, China and Russia, and will mean the military can foot the bill for thousands more troops, more training, more ships and a lot else.

  • Written by By ROBERT BURNS and RICHARD LARDNER , Associated Press

Will stock plunge hurt US economy? Depends how long it lasts

WASHINGTON (AP) — The tumble in U.S. stock prices has inflicted psychological pain and financial losses — at least on paper — for people with a meaningful stake in the market. Their anxiety conjures another fear, too: That consumers and businesses might slash their spending in response.

  • Written by By CHRISTOPHER RUGABER , AP Economics Writer

False alarms highlight weaknesses in national alert system

 

Weather junkie John Grosso knew it was highly unlikely a monster wave was barreling toward the Connecticut coast. Still, when a tsunami warning appeared out of the blue on his phone Tuesday, he felt a twinge of fear. His co-workers, who got the same alert, asked whether they should evacuate.

  • Written by By MICHAEL RUBINKAM , Associated Press