More evidence of a general slowdown from the CBO…
US public finances feel the pinch
The economic downturn in the US is starting to hit government revenues, the head of the Congressional Budget Office has told the Financial Times.
In an interview, Peter Orszag, the CBO director, said the slowdown “is showing up in revenue”. Tax receipts were softer “across revenue as a whole” but “the slowing is most marked in corporate tax receipts”.