Recession Alert From The US Treasury—-Tax Collections Have Slumped Big Time

When it comes to reading the economic tea leaves there is no better data source than the US Treasury. Unlike the imputations, birth/death guesstimates and seasonal maladjustments of the BLS jobs data, the millions of US businesses which pay Federal taxes, including withholding from their employees, have a stubborn tendency to remit taxes only on work and production actually performed.