Those looking for data on the US budget deficit contained in the Monthly Treasury Statement had to wait a few weeks because of the government shutdown, but better late than never, and today at 2pm, the Treasury unveiled the US income statement for the just concluded fiscal year 2025. It was ugly, but not as ugly as it could have been and the month of September was outright impressive.
Starting at the top with the month of September, the numbers were surprisingly sold: total tax revenue of $543 billion were the highest since April (which is tax-collections month), a 3.2% improvement from a year ago, and pushed the 6-month moving average to a record high $496 billion.
As usual, the vast majority of govt receipts was in the form of individual income taxes ($298BN out of $544BN), with Social Security contributing about a 3rd of the total receipts and Corporate Income Taxes accounting for 11% or $62 billion of the total.
Is it a little strange that we no longer hear about what D.O.G.E. is doing ?
We no longer hear about the massive savings that they have found / recovered for the American people.