JVB-BSullivan-Econ-Comment-110209

Broker Dealer / Institutional / Advisor Use Only November 2, 2009 ABOUT Tax collections in October remained very weak BILL SULLIVAN When examining the Treasury’s Daily William V. Sullivan, Jr. Conceivably, the most problematic serves as Chief Economist Statement for input on the Federal Budget, performance vis-à-vis the economy was the at JVB Financial Group, recognition has to be given to the fact that huge drop in payroll tax receipts during working closely with the the available data can be distorted to some October. Indeed, the Treasury collected just firm’s trading desk, extent by ongoing shifts in the configuration $124.7 billion in withheld income and Social providing analysis and commentary on the U.S. of the calendar. An extra business day, for Security taxes, down $17.8 billion or 12.5% economy and the financial instance, can affect the volume of tax versus the inflows recorded for October, markets. Among his duties receipts or expenditures that are recorded in 2008. The payroll receipts category, needless are authoring a weekly a given month versus previous years. to say, is extraordinarily sensitive to changes report on credit market Notwithstanding this caveat, it is quite trends and maintaining a in labor force activity. Clearly, the number regular schedule of apparent that another huge deficit was of workers on payrolls, the length of the conference calls that focus registered during October, 2009, the first workweek as well as the ...