May 6, 2009

April 2009 Federal Receipts Update: Down 35%, Pending Final Monthly Report

Filed under: Business Moves,Economy,Taxes & Government — Tom @ 2:15 pm

Here is how the daily statement came in for April 30, 2009 vs. April 30, 2008:

USreceiptsDaily043009v043008

Last Friday, I said that “it appears that April 2009 POR (Pelosi-Obama-Reid) Economy receipts might just get to $260 – $265 billion instead of the $250 billion I thought more likely earlier in the week.” It looks like $265 billion or a bit less will be the result, if other receipts trail last year’s by about 12%; it appears from a cursory review they are on track to do just that.

A 3.3% contraction in the economy during the previous three quarters (not annualized) doesn’t lead, and never has led, to a 35%-plus contraction in receipts — unless there’s more going on, as there has been, than the contraction itself.

Treasury’s Monthly Statement will come out next Tuesday.

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4 Comments

  1. Thanks for the great work you do. Interesting to say the least.

    Comment by mndasher — May 6, 2009 @ 8:01 pm

  2. The Obama Admin has now admitted that the annual budget deficit will hit $1.8 trillion. Well, Tom we have only $200 billion to go to hit your estimate of $2 trillion. All of this before any significant amount of the so called Stimulus Bill is even spent! Any idea that next year’s deficit will be smaller than this year’s is equally absurd.

    Comment by dscott — May 11, 2009 @ 4:07 pm

  3. [...] BizzyBlog coverage of the federal revenue shortfall. Here is the last post on the subject,  April 2009 Federal Receipts Update: Down 35%, Pending Final Monthly Report. I was not terribly concerned what the administration thought since they are largely irrelevant to [...]

    Pingback by US to borrow 46 cents for every dollar spent (AP) | alazycowboy.com — May 12, 2009 @ 7:58 am

  4. yeah,,was making 50K a year now getting 8.50 and hour working at a grocery, 35 hours no insurance, thanks obama esp bailing out everybody. If Bush would have done that with the airlines back after 911 I might be making more and paying taxes higher, Plus My illegal girlfriend paying her taxes and can’t a refund.

    Comment by jsiekmem — May 12, 2009 @ 2:54 pm

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