9/6/2023 0 Comments Receipts from 2021![]() ![]() “While the nation’s economic recovery is stronger than those of other wealthy nations, it is still fragile. The nation’s economic progress is the direct result of the Biden-Harris Administration’s efforts to enact the American Rescue Plan and address the pandemic,” Treasury Secretary Janet L. “Today’s joint budget statement is further evidence that America’s economy is in the midst of a recovery. To carry this momentum forward, the President has put forward an agenda to invest in the middle class and ensure that all Americans can share in the benefits of a growing economy. This faster, broader growth also produced a smaller budget deficit than originally projected. During the first two quarters of 2021, the economy grew faster than the comparable period in any year over the past four decades. The economy has added an average of 600,000 jobs each month and has already made up the GDP losses from the first half of 2020, surpassing the pre-pandemic GDP peak. Since the President took office, the unemployment rate has fallen to 4.8 percent. This is a result of the President taking swift action to mount a historic vaccination effort and secure the enactment of the ARP, which helped put a floor under the crisis, got shots into arms, and delivered checks into pockets. economy is getting back on track and Americans are getting back to work. Under President Biden’s leadership, the U.S. As a percentage of gross domestic product (GDP), the deficit was 2.6 percentage points lower than in the previous year. The 2021 deficit was $897 billion less than forecast in the President’s 2022 Budget and $342 billion less than estimated in the 2022 Mid-Session Review. The deficit in FY 2021 was $360 billion less than in the prior fiscal year, reflecting an improved economy due in part to the American Rescue Plan Act of 2021 (ARP) and COVID-19 vaccination rollout. Young today released the final budget results for fiscal year (FY) 2021. ![]() Yellen and White House Office of Management and Budget (OMB) Acting Director Shalanda D. Saskatchewan farmers received $324 million less from canola, $299 million from durum and $232 million in wheat compared with 2020.WASHINGTON - U.S. Wheat declined in value by just over $1 billion to $7.1 billion. In Manitoba drought was also bad with receipts up 22 per cent to $8.38 billion and directs payments up 103 per cent to $417.9 million.Ĭrop receipts decreases across the country amounted to just over $6 billion offset with a $300 million increase in livestock receipts.Ĭanola saw the largest decline in dollar value by $1.75 billion to $10.2 billion. In Saskatchewan farm cash receipts totalled $19.09 billion, up by 16 per cent.ĭirect farm payments in this province of $2.2 billion increased by 330 per cent from 2020, reflecting the drought.Īlberta farm cash receipts increased 21 per cent to $18.637 billion with direct payments up 41.5 per cent to $2.08 billion. That compares with $3.45 billion or four per cent of receipts in 2020. Government direct payments under farm safety net programs made up $5.94 billion or 6.6 per cent of total income last year. Farm cash receipts across Canada increased 24.8 per cent last year according to Statistics Canada to a record $89.9 billion despite one of the worst droughts in decades out West. ![]()
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