The Federal deficit is hiding U.S. recession:
This shows 12 month calendar year moving average Treasury tax receipts (blue line) with the U.S. Federal deficit (red area). We also see the second fake recovery in a row...
Tax receipts through 12/31/2016. Deficit through Sept. 30, 2016:
Tax receipts through 12/31/2016. Deficit through Sept. 30, 2016: