Profile picture
, 5 tweets, 1 min read
Final FY19 US budget tally

Receipts 16.3% of GDP
vs 16.4% in FY18
Outlays 20.9% vs
vs 20.2% in FY18
Deficit -4.6% of GDP
vs -3.8% in FY18

home.treasury.gov/news/press-rel…
At 4.6% of GDP, the federal debt was larger than any year since 2012 when the unemployment rate was above 8%.
the federal DEFICIT, I mean
Can you do better than Congress than managing the federal budget? Try fiscalship.org
Corporate tax receipts increased 12% in the fiscal year ending in September, with most of the gains occurring in the second half of the fiscal year, while individual income tax revenue rose 3%. wsj.com/articles/u-s-b…
Missing some Tweet in this thread? You can try to force a refresh.

Enjoying this thread?

Keep Current with David Wessel

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

More from @davidmwessel see all

Profile picture
David Wessel
@davidmwessel
Liang, McConnell, Swagel: Eight lessons from the global financial crisis: (1) Prepare (at least ) for what is likely. brookings.edu/wp-content/upl… #FinCrisisLessons
Lesson 2: Prepare to be surprised.
Lesson 3: Communicate before during and after the crisis
Lesson 4: There will always be forces pushing against early intervention
Lesson 5: Late intervention limits the potential for good outcomes
Lesson 6: Late intervention may raise rather than lower potential for unintended consequences
Read 4 tweets

Related threads

Profile picture
#UnRedactedCopy Lori
@LJT_is_me
❤️🇺🇸 Treasury Designates China as a Currency Manipulator | U.S. Department of the Treasury home.treasury.gov/news/press-rel…
❤️🇺🇸 Very unwise of #China 🇨🇳
❤️🇺🇸 Many American's were taught about economics and money by people who were wrong about the horrible trade deals for many decades sir..
Read 8 tweets
Profile picture
NCRI-U.S. Rep Office
@NCRIUS
'Treasury Sanctions Iran’s Largest Petrochemical Holding Group and Vast Network of Subsidiaries and Sales Agents'
#Iran #Sanctions @USTreasury
home.treasury.gov/news/press-rel…
NCRI-US's @A_Jafarzadeh: One less money laundering tool in the hands of the ruling mullahs. Timely action by @USTreasury to deprive the #IRGC & Supreme Leader @khamenei_ir of funds to suppress #Iran's people, plunder their wealth & spread violence and terror in the region.
A key policy recommendation in the NCRI-US’s newly published book, ‘Iran’s Emissaries of Terror” stressed “Sanctions on the petrochemical industry will close one of the most critical channels used by the regime to finance its domestic and foreign malign activities.” #Iran #IRGC
Read 5 tweets
Profile picture
Wendy Siegelman
@WendySiegelman
Treasury Dept notified congress of plans to terminate sanctions on Oleg Deripaska's En+ Group, Rusal & EuroSibEnergo in 30 days

New sanctions were placed on people/entities linked to election interference (GRU, Concord, IRA) including USA Really website
treasury.gov/resource-cente…
Treasury Targets Russian Operatives over Election Interference, World Anti-Doping Agency Hacking, and Other Malign Activities
home.treasury.gov/news/press-rel…
Treasury Department Notice of Intended Removals; Ukraine-/Russia-related Designations (Deripaska's EN+, Rusal, EuroSibEnergo in 30 days); and Cyber-related Designations - individuals and entities added to OFAC's SDN List
treasury.gov/resource-cente…
Read 6 tweets
Profile picture
Headsnipe01
@Headsnipe011
Treasury Releases Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States

@drawandstrike @HNIJohnMiller @catesduane @rising_serpent @_ImperatorRex_ @Debradelai @GodlessNZ @almostjingo @tracybeanz @TheChiIIum

home.treasury.gov/news/press-rel…
Washington – The U.S. Department of the Treasury today delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.
The Report concluded that while the currency practices of six countries were found to require close attention, no major U.S. trading partner met the relevant 2015 legislative criteria for enhanced analysis during the period covered by the Report.
Read 13 tweets
Profile picture
Headsnipe01
@Headsnipe011
Federal Agencies Issue a Joint Statement on Banks and Credit Unions Sharing Resources to Improve Efficiency and Effectiveness of Bank Secrecy Act Compliance
Banks working on transparency

@drawandstrike @HNIJohnMiller @catesduane @rising_serpent @_ImperatorRex_ @Debradelai @GodlessNZ @almostjingo @tracybeanz @TheChiIIum

home.treasury.gov/news/press-rel…
WASHINGTON—The federal depository institutions regulators and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued a statement* to address instances in which certain banks and credit unions may decide...

* fincen.gov/sites/default/…
Read 16 tweets
Profile picture
Headsnipe01
@Headsnipe011
Treasury Issues Proposed Rule on Charitable Contributions and State and Local Tax Credits

@BrianDCates @ThomasWictor @HNIJohnMiller @catesduane @rising_serpent @_ImperatorRex_ @Debradelai @LarrySchweikart @GodlessNZ

home.treasury.gov/news/press-rel…
Washington—The U.S. Department of the Treasury today issued a proposed rule on the federal income tax treatment of payments and property transfers under state and local tax credit programs.
The proposed rule would prevent charitable contributions from being used to circumvent the new limitation on state and local tax deductions.
Read 14 tweets

Trending hashtags

#EM #JohnSingerSargent #USVIA #Bulgaria #Libya #AdrianDarya1 #MaximumPressure #Bonds #McFaul #Vietnam #japanification #ThievesInLawCult #energy #HappyNewYear #NonInvestigativeSubjects #TeamPatriot #ETFs #AOC #Asia #Britain #FactsMatter #Huawei #PAMFAM #ThePatriotTimes #China
Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!