What were tax receipts at the same time?

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Total revenue was $4.9 trillion. But deficit was $1.38 trillion

The projections for this year are all way too optimistic as well right?

Ofcourse! Don’t forget that tax receipts are in a booming economy (pumping equities) also the highest. If we go in a recession, tax receipts will plummet as well

They already are plummeting due to a lack of cap gains