Federal government current tax receipts: Personal current taxes
Federal government current receipts: Contributions for government social insurance
The automatic fiscal stabilizers got some help from the FICA hike to cut net govt spending and throw a wet blanket over growth and maybe take a year or two off the duration of this cycle.
Lots of indicators looking very late cycle to me now.
This year’s deficit is now running less than 3% of GDP- about the same as the EU.
:(
