Real wages have fallen and according to the Treasury, the deficit has grown by 21 percent. Yet, most media personalities are telling us that the economy is good. Is the economy going well?
According to July’s report, government receipts from corporations for January to July 2018 was 166,004 (millions) versus 232,294 (millions) for the comparable 2017 time period — before the Republican Party tax reform measures at the end of 2017.
In contrast, receipts from individuals is up from 1,312,691 (millions) last year to 1,415,150 (millions).
It was reported in May (Transunion report) that the use of credit cards as well as serious delinquencies have increased. Serious delinquencies are defined as +90 days late.