You/we are most surely going to get it, one way or another.
Check this out: "Government methodology for reporting retail sales is based on sampling stores in existence. It does not factor in stores not in existence but recently were. Nor does it handle closed stores when the chain is still doing business. Government reporting of retail sales is fatally flawed."
Here's the deal--states and the Federal Government are reporting sales tax collections down and considerably so and, as you know, the states can't operate on deficits so they're all slashing budgets, programs and staff, etc.
But the reports from the feds in Washington are based on same-store sales from the previous year.
What it doesn't take into account is that so many stores have closed doors and/or gone bankrupt.
So sure, same store retail sales are up.
But tax revenues? The money they get in to spend on you and I?
Down. And big time.
So yeah, with the exception of Washington, DC, you and I are going to get smaller government, no doubt about it.
So if you're Conservative or Independent or Libertarian or just a Liberal like me who wants to see government shrink a bit, stay tuned. You're going to get what you wish for.
(You should maybe check out that link above, to see both how much less the States have in tax revenues and the rather long list of companies whose stores closed).
Let's have a great week.
Carlyle’s Private Equity Secrecy Overreach
57 minutes ago