I ain't no genius, but this doesn't sound good.
Here are the numbers for the first nine months of the 2009 U.S. fiscal year, which ends September 30th. Federal receipts are down 18% from 2008 levels. Individual income tax receipts are down 22%, and corporate tax receipts are down 57%. Meanwhile, federal outlays are up. . . a lot. The budget deficit for the nine months now stands at $1.086 trillion versus a deficit of $286 billion over the same nine months of fiscal year 2008.