The two graphs below depicting decline in tax receipts and the increase in government spending as a percentage of income (tax receipts) are produced from this U.S. Treasury data.
The graph below depicts government spending as a % of income (tax receipts). Note, in this case a postive percentage means the U.S. is in deficit spending mode.
This graph depicts the drop in income (tax receipts) from 2008 to 2009. A positive number is a measurement of decrease in income to the U.S. Treasury.
Not a pretty picture, especially the 30% year over year drop in tax receipts from March 2008 to 2009.
H/T to Tom Blummer over at Pajama’s Media.
