RealMacro

US Tax Revenue has exploded by 43%

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FRED:FYFR   Federal Receipts
US Tax Revenue has exploded by 43% since 2020 to almost $5 trillion annually. So far 2023 the US Gov't has collected $2.686 Trillion and still it has to borrow more to meet its obligations. While Real GDP has only risen 4.5%.

#MMT gets it wrong again. More is never enough! The more we print the more we have to print with no real (inflation-adjusted) economic growth. The US economy is very dysfunctional and getting worse.

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