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Joint Statement of Janet L. Yellen, Secretary of the Treasury, and Shalanda D. Young, Director of the Office of Management and Budget, on Budget Results for Fiscal Year 2023

Joint Statement of Janet L. Yellen, Secretary of the Treasury, and Shalanda D. Young, Director of the Office of Management and Budget, on Budget Results for Fiscal Year 2023
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Joint Statement Of Janet L. Yellen, US Secretary Of The Treasury, And Shalanda D. Young, Director Of The Office Of Management And Budget, On Budget Results For Fiscal Year 2023

Joint Statement Of Janet L. Yellen, US Secretary Of The Treasury, And Shalanda D. Young, Director Of The Office Of Management And Budget, On Budget Results For Fiscal Year 2023
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Joint Statement By Secretary Of The US Treasury Janet L. Yellen And Acting Director Of The Office Of Management And Budget Shalanda D. Young On Budget Results For Fiscal Year 2021

<p><span>U.S. Secretary of the Treasury Janet L. Yellen and White House Office of Management and Budget (OMB) Acting Director Shalanda D. Young today released the final budget results for fiscal year (FY) 2021. 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. 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. </span><span> As a percentage of gross domestic product (GDP), the deficit was 2.6 percentage points lower than in the previous year. </span><span> The FY 2021 deficit was $2.8 trillion.</span></p> ....

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