11/14/2023 0 Comments Us federal budget 2022The strongest economic growth in four decades, powered by the American Rescue Plan, has also contributed to a historic decline in the deficit-by fueling strong revenue growth and allowing the Administration to responsibly phase down emergency pandemic-related spending. This progress was a direct result of the President’s strategy to grow the economy from the bottom up and the middle out and his effective management of the American Rescue Plan-a strategy that was built on smart, fiscally prudent investments that helped jumpstart our economy.Īs our historic economic and labor market recovery continues, the President’s Budget projects that the deficit in 2022 will be more than $1.3 trillion lower than last year’s-the largest ever one-year decline in our country’s history. At the same time, the deficit fell last year-by around $300 billion. And the unemployment rate has fallen to 3.8 percent, the fastest decline in recorded history. Our economy grew at 5.7 percent, the strongest growth in nearly 40 years. We created more than 6.5 million jobs in 2021, the most our country has ever recorded in a single year. Under the President’s leadership, America is on the move again. Get Involved Show submenu for “Get Involved””.The White House Show submenu for “The White House””.Office of the United States Trade Representative. Office of Science and Technology Policy.Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””.
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