Record Revenues
04/28/2014 | | Economic forecasting, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, Graphsandlaughs, MLS, Multiple listing service, Public speaking economist, econ70, economist on TV, economist on radio, eisenberg and economics, funniest economist, funny housing economist, graphsandlaughs and eisenberg, housing sales, mortgage banking, politics and economics
The federal deficit is shrinking fast and is expected to be just $492 billion or 2.8% of GDP in FY 2014. Similarly, state government finances are also rapidly improving. In FY 2013, state governments collected a record $846 billion — personal income tax receipts rose 10%, corporate taxes jumped 8% and sales taxes climbed 4%. 48 states reported tax revenue growth last year. Only Alaska and Wyoming saw revenue declines.