June 2014

The US Daily Cash Deficit for Thursday 6/12/2014 was $3.4B bringing the June 2014 deficit through 12 days to $31B.

No material changes in the big scheme of things…small gains are being made on revenues…now at +2.6%…..but those small gains are being overwhelmed by moderate increases in outlays. Through 12 days, revenues are up $2.5B….outlays are up $7.4B…and so the deficit is up $4.9B as we approach the midpoint.

We have a few interesting days coming up….Friday and Monday should be heavy on corporate taxes…perhaps $50-$60B. However….the USDD will be on summer vacation….there may be a Monday post (covering Friday)…but it may be delayed until Tuesday if the margaritas are good. Definitely back in the office Wednesday with lots of interesting things to discuss.

The US Daily Cash Deficit for Wednesday 6/11/2014 was $4.5B, following Tuesday’s $5.0B deficit, and bringing the June 2014 deficit to $28B through 11 days…though we should see this turn to surplus by early next week.

There are no major changes over the last two days, but Wednesday’s Taxes not withheld was at $3.3B compared to $2.6B last year…a nice little bump….I don’t know if that’s a good sign for the $30B or so we should see next week, but we’ll take it. Other than that, revenues for now are still pretty much stagnant and sitting at +2%.

The US Daily Cash Surplus for Monday 6/9/2014 was $5.4B bringing the June 2014 deficit down to $18B through 9 days.

June 2014 continues to move pretty much in lockstep with June 2013. For the day, revenues were up about $400M…outlays were up about $600M. There really isn’t much interesting going on until the end of the week when we should start seeing corporate taxes trickle in before spiking Monday 6/16. Individual income taxes not withheld will also start trickling in, spiking in the middle of the week. So by Wednesday of next week, we should have a pretty good idea if we are going to see any big changes in revenues. Until then…it looks like more of the same.

The US Daily Cash Deficit for Friday 6/6/2014 was $3.0B bringing the June 2014 Deficit through 6 days to $24B.

Through our first week of June, Revenues are up 2%, outlays are up 5%. The outlays spike seems to be driven primarily by May interest payments that slipped into June…pull them out and we’re pretty much even.

The US Daily Cash Deficit for Thursday 6/5/2014 was $4.0B bringing the June deficit through 5 days to $21B.

Once again…we see the YOY 2013 vs 2014 very close resulting in minimal changes….how boring 🙂