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Federal Withholding Tax Data Says US Already In Recession
I wanted to follow up with you on the June 17 report on Federal Withholding Tax collections, which I cover regularly in the Professional Edition Treasury Update (latest report here). I like tracking withholding taxes because they are one of the only economic barometers that we can follow virtually in real time on a daily basis. The charts below contain daily data through June 23. If you are a Professional Edition subscriber this is largely redundant data, but there are two new charts and is one new critical fact which I think tell the story better and will show you more clearly just what’s going on. I will include ... (full story)