This Friday, were taking a look at Microsoft and Sonys increasingly bitter feud over Call of Duty and whether U.K. regulators are leaning toward torpedoing the Activision Blizzard deal. All the latest news, views, sport and pictures from Dumfries and Galloway. We hope you found our guide to be helpful. When not cranking out quips, Bill actualizes beer money as a musician and podcaster. The Congressional Budget Office reported that the federal government generated a $207 billion deficit in November, the second month of fiscal year 2020. During the 2000s, new entry-level housing supply averaged 150,000 units per year, compared to 207,000 during the 1990s. Hello, and welcome to Protocol Entertainment, your guide to the business of the gaming and media industries. The combination of low supply (especially entry-level) and high demand (especially entry-level) is causing entry-level prices to rapidly escalate well above overall prices, triggering affordability issues for buyers to come up with even larger down payments. The latest available data is from the March 2020 ASEC survey at 128.5 million. Pandemic relief programs also drove spending increases for the Public Health Social Services Emergency Fund, the Department of Education, and the Department of Agricultures Food and Nutrition Service by 160%, 77%, and 58%, respectively, during the first two months of the fiscal year. Baker realized there was more value to Zellers real estate than to the operation itself, since Walmart had soundly beaten the brand. The Congressional Budget Office estimates that the federal government ran a deficit of $312 billion in February 2021, the fifth month of fiscal year 2021. Total revenues so far in FY2020 increased by 5% ($35 billion), while spending increased by 7% ($74 billion), compared to the same period last year. Get up-to-the-minute news sent straight to your device. The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes. The Congressional Budget Office estimates that the federal government ran a deficit of $198 billion in August, the eleventh month of fiscal year 2020. About a third of this dip occurred in June, which CBO attributes to a decrease in corporate tax collection largely due to the implementation of the Tax Cuts and Jobs Act of 2017. Revenues in FY 2018 remained almost entirely flat, growing by less than 1 percent. The drop in revenue between last June and this one was due almost entirely to the administration delaying the deadline for quarterly tax payments from June 15 to July 15. The FY2022 cumulative deficit continues to more closely track pre-pandemic deficits, in contrast to the record-high levels of the past two years. In the absence of these timing shifts, the federal government would have run a monthly surplus in December 2021 (of $4 billion) for the first time since January 2020, prior to the onset of the COVID-19 pandemic. Designed by, INVERSORES! Meanwhile, federal spending on unemployment insurance benefits rose from $2 billion last June to $93 billion this May to $116 billion this June. Other significant increases in spending included the Food and Nutrition Service (up $35 billion or 36%), the Department of Education (up $27 billion or 37%, as more of the pandemic-related emergency grants got allocated), and the Public Health and Social Services Emergency Fund (up $26 billion or 54%, as pandemic-related expenditures increased). Some of the links on our site are from our partners who compensate us. These summaries are released around the fifth business day of every month and preview the release of official budget data from the Treasury Department, which follows on roughly the eighth business day of every month (except end-of-year data, which tends to be released later in October). The expiration of pandemic-related relief spending, such expanded unemployment insurance, certain tax credits, and other public benefit programs, accounts for most of that change. This can be seen in Exhibit 4a, which indicates the percentage point change in homeownership by age group. (Excluding timing shifts of certain payments, the total deficit so far this fiscal year is 17 percent$137 billionhigher than over the same period last year.) Total outlays through August, however, were 52% ($2.1 trillion) greater than they were over the same period in FY2019. But one of the most important reasons for this shortfall has been the severe underbuilding of entry-level homes, where most of the demand exists, especially now given the large cohort of Millennials entering the housing market. But it needs more housing development for the strong vision to come true. Without these timing shifts, this Augusts deficit would have been $106 billion (or 72%) greater than last Augusts. Februarys deficit is 5 percent ($12 billion) higher than the deficit recorded a year earlier in February 2018. Total interest payments on the federal debt for FY 2018 were $371 billion, nearly as much as the federal government spent on the Medicaid program over the same period (all spending figures adjusted by CBO to remove the effects of timing shifts). A subscription helps you access more of the local stories that keep you connected to the community. Receipts have grown robustly, totaling $1.5 trillion for the fiscal year to date, which is $331 billion (28%) more than the government collected during the first four months of FY2021. Spending on the three largest mandatory programs Social Security, Medicare, and Medicaid rose by 4 percent ($73 billion). The federal response to COVID-19 created unprecedented, and often temporary, changes to spending and revenues. This small net increase is the result of greater revenues from non-withheld individual taxes (up 21%), corporate income taxes (up 12), and unemployment insurance revenue (up 34%). BPCs economic policy team analyzes the governments running budget deficit and updates the Deficit Tracker everymonth. Waitlists for public housing in the Kimberley have showed no sign of improvement, despite a $2.4b State Government investment in social housing, with a decrease of just 0.84 per cent in the last six months. Commercial real estate loans also come with shorter repayment terms than residential loans; a negotiable range of 5 to 20 years is the norm, as opposed to a 30-year home mortgage. The Congressional Budget Office reported that the federal government generated a $200 billion deficit in August, the eleventh month of Fiscal Year 2019. Aprils shortfall brings the total deficit so far this fiscal year to $1.48 trillion, which is 179% ($949 billion) higher than the same period last year. And the $7 billion of outlays from the Public Health and Social Services Emergency Fund is 82% less than its April peak of $39 billion. Compared to the same months in FY2019, spending increased in April through September 2020 by: Each September, the government receives substantial revenue from individual and corporate income taxes, which generally produces a monthly surplus. A majority of the rise was due to the additional $600 in weekly benefits for all recipients. The SBA doesnt monitor the rates, fees, and terms of the lenders portion of the loan, but it does establish the CDCs, setting 10-year loans at 4.85% fixed interest or 20-year loans at 5.07% fixed interest. The majority of the second and third round of stimulus checks were disbursed in January and March 2021, driving spending on refundable tax credits during the past fiscal year. Even at its cyclical peak during the 2000s, entry-level supply reached only 186,000 units in 2004, the same year that homeownership peaked during this period. In recent years, increasing raw material costs have also been adding to builders' woes, especially during the pandemic when lumber prices increased more than 150%. Real estate is a highly illiquid asset. Email: [emailprotected]. This deficit was the difference between $474 billion of spending and $281 billion of revenue. Department of Homeland Security outlays shrank 74% year-over-year, as certain payments such as unemployment benefits that disbursed through the Disaster Relief Fund in September 2020 were not repeated in 2021. So far this fiscal year, the federal government has run a cumulative deficit of $1.9 trillion, the difference between $2.1 trillion of revenue and $4.0 trillion of spending. Waitlists for public housing in the Kimberley have showed no sign of improvement, despite a $2.4b State Government investment in social housing, with a decrease of just 0.84 per cent in the last six months. Small Business Administration outlays are 44% ($256 billion) less than over the same period last year, reflecting the gradual reduction of spending towards pandemic assistance programs like the Paycheck Protection Program and Economic Injury Disaster Loan program. So far this fiscal year, the federal government has run a cumulative deficit of $2.7 trillion, the difference between $3.6 trillion in revenue and $6.3 trillion in spending. Of all outlays, unemployment insurance benefitswhich totaled $3 billion last December but $28 billion this Decembercontributed the most to the spending increase. According to a report by Bloomberg, over the last year, real estate prices have risen by 89 per cent. For this reason, Augusts cumulative deficit is larger than it otherwise would have been, which will be offset by a lower deficit in September. Corporate tax revenues increased by 75% in part due to higher corporate profits, and unemployment insurance receipts increased by 31% as states replenished their unemployment insurance trust funds. We deflate our target households by a factor equal to 124.9/128.5, or 0.97. Lendio partners with over 75 lenders, which improves your odds and efficiency to get the funding you need. 3 Between 1976 and 1979, the construction of new entry-level single-family homes 4 The growth in spending from last fiscal year is driven by the federal governments response to the COVID-19 pandemic and recession. Real Estate and Property Market News. There are almost twice as many unfilled positions as unemployed workers to fill them, equating to a shortfall of more than five million workers. In September 2021, three men confronted the principal of Mesquite Elementary School over COVID-19 protocols. Revenues from customs duties increased by 72 percent ($26 billion), primarily due to new tariffs imposed on certain imports from China. The cumulative deficit for FY2022 thus far is $149 billion (24%) lower than even the deficit over the comparable period in FY2020, pre-dating the onset of the COVID-19 pandemic. Januarys surplus was the first recorded since September 2019, and it was the difference between $467 billion in revenues and $348 billion in spending. Meanwhile, outlays through the Small Business Administration rose from $103 million last July to $26 billion this July, mostly because of loans made through the Paycheck Protection Program. Cumulative outlays are 20% ($771 billion) greater than at this point last fiscal year and 55% ($1.7 trillion) greater than at this point in FY2019. Domain News - Provides the latest real estate and property market news in Australia. Analysis of Notable Trends: Fiscal patterns over the past month continue to reflect the federal governments response to the COVID-19 pandemic, as well as the developing economic recovery. Furthermore, customs duties increased by 77 percent ($22 billion)versus last year, primarily due to the imposition of new tariffs. Federal spending remains stratospheric, primarily as a result of COVID-19 relief programs. The financial crisis of 20072008, or Global Financial Crisis (GFC), was a severe worldwide economic crisis that occurred in the early 21st century. Although this Julys deficit was actually smaller than last Julys $120 billion deficit, the change does not represent an improved fiscal condition but a mere timing shift. Because August 1 fell on a weekend in both 2020 and 2021, certain federal programs that typically pay out large sums on the first of the month did so twice in July. The majority of the second and third round of stimulus checks were disbursed in January and March 2021, driving spending on refundable tax credits during the past fiscal year. This year, Tax Day returned to its normal timing and those payments arrived in April. One way would be to raise taxes. For example, the federal government recorded an $83 billion surplus last September (or a surplus of $31 billion after accounting for a shift in the timing of some payments). Predatory lending targeting low-income homebuyers, excessive risk-taking by global financial institutions, and the bursting of the United States Total revenues so far in FY2020 decreased by 10% ($200 billion), while spending increased by 29% ($749 billion), compared to the same period last year. Outlays from the Small Business Administration, which funds the Paycheck Protection Program, soared from $80 million last June to $35 billion this May to $511 billion this June. The delivery giant said it would close offices, reduce Sunday ground operations and park some cargo aircraft after it warned of revenue shortfalls from declining package deliveries. As a result of high inflation, Social Security beneficiaries received a 5.9% cost-of-living adjustment (COLA) for 2022, the largest since 1982., The Congressional Budget Office estimates that the federal government ran a deficit of $216 billion in February 2022, the fifth month of fiscal year 2022. The Congressional Budget Office reported that the federal government generated a $737 billion deficit in April, the seventh month of fiscal year 2020. Timing shifts did move some payments to September that otherwise would have been paid in October (i.e., FY2023), contributing to the higher-than-expected deficit last month. Spending rose $22 billion (4%) year-over-year. So far this fiscal year, revenues are up 1%. Commercial real estate loans also come with shorter repayment terms than residential loans; a negotiable range of 5 to 20 years is the norm, as opposed to a 30-year home mortgage. On the spending side, Social Security expenditures increased by 6 percent ($42 billion) compared to last year due to increases in the number of beneficiaries and the average benefit payment. Cuadras DE LAGO SAN ROQUE VA PARQUE SIQUIMAN a 2 CUADRAS DE LAGO SAN. 4 percent ( $ 25 billion ) year-over-year data from CBOsMonthly budget reviews to normal! 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