Retail Sales and State Tax Revenues

Retail Sales: 5 Recessions

State Tax Revenues (1964- 2009)

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Source:
State Tax Revenues Show Record Drop, For Second Consecutive Quarter
Lucy Dadayan and Donald J. Boyd
The Nelson A. Rockefeller Institute of Government
http://www.rockinst.org/pdf/government_finance/state_revenue_report/2009-10-15-SRR_77.pdf

(from ritholtz.com, November 10, 2009)