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Analysts at Goldman Sachs are predicting that the $1.9 trillion American Rescue Plan President Biden signed into law last week will help spur eye-popping economic growth this year.
“We have raised our GDP forecast to reflect the latest fiscal policy news and now expect 8% growth in 2021 (Q4/Q4) and an unemployment rate of 4% at end-2021 the lowest among consensus forecasts that falls to 3.5% in 2022 and 3.2% in 2023,” Goldman economists said in a note Sunday, according to Axios.
While Goldman’s outlook may be the most bullish on Wall Street, many analysts agree that the U.S. will see growth unlike any in many years. “The US economy is going to once again become the global locomotive,” Gregory Daco, chief US economist at Oxford Economics, said. Daco, who expects the U.S. economy to grow at a rate of 7% this year, added that the extraordinary expansion “will help pull the rest of the world out of this Covid c
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Alabama to get $4 billion from American Rescue stimulus package; Birmingham gets $148 million
Updated Mar 15, 2021;
Posted Mar 15, 2021
President Biden s American Rescue plan includes $350 billion in direct aid to state and local governments.
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Alabama will receive $4.043 billion in direct aid as part of the $1.9 trillion American Rescue Plan President Biden signed into law last week.
Among counties, Jefferson will receive the largest allocation ($127 million), followed by Mobile ($80.14 million), Madison ($72.32 million), and Montgomery ($43.93 million).
Birmingham will get $148.82 million, by far the most among cities. Mobile will receive $60.21 million, Montgomery $42.14 million.
The funds are part of the $350 billion provided to state and local governments to help boost budgets hit hard during the COVID-19 pandemic. Last year, Birmingham Mayor Randall Woodfin projected a $63 million shortfall in the city’s FY2021 budget due to COVID-19′s impact on the e