How Bad IS This Recession?

It's really, really bad.

Look at the table of US Treasury receipts found in this post.

9/08 vs. 9/09 comparo:

Withheld income/employment taxes off 17.5%

Corporate income taxes off 37.7%

Individual income & (self-) employment taxes off 40.1%.

And it doesn't look all that much better for the rest of September. BizzyBlog makes the point that Orszag (Obama's boy) is making up numbers--or at least painting with bright-rose-paints when coming up with tax-receipt projections to support Obama's spending spree.

CBO, on the other hand, doesn't have that, ah, freedom--but even CBO's numbers may be optimistic.

We simply cannot afford the spending Obama plans, period.

HT: Eggster (whose work is cited by Morrissey and BizzyBlog)