US Daily Cash Deficit 9/5/2014

The US Daily Cash Deficit for Friday 9/5/2014 was $0.6B bringing the September 2014 deficit through one week to $42B.

2014-09-05 USDD

Revenues are looking solid through one week at about +5%. Outlays appear way up…but this is the ~$18B of Medicare that went out in late August in 2013, but early September in 2014. Other than that, we appear to be pretty much aligned. September, being a quarter end should post some solid revenue numbers reversing August’s huge deficit with a surplus….I’m guessing in the $60B range. Look for the revenue surge to start next Monday 9/15 with corporate taxes in the $50B range…followed by a steady flow of personal taxes through the end of the month.

US Daily Cash Deficit August-2014

The US Daily Cash Deficit for Friday 8/29/2014 was $17.5B bringing the August 2014 Deficit to $155B for the full month compared to $173B last year.

2014-08-29 USDD

You may recall…I was forecasting a huge deficit for Friday, and I suppose $17.5B is a pretty big number, but I was looking for something in the $30-$35B range. In a typical month, a large Medicare payment of about $18B goes out early in the month, but I with the holiday on 9/1, I assumed it would be paid on the last day of August like it was last year. For whatever reason…it didn’t….I’m sure we will see it 9/2….

If you ignore this timing event, August 2013 and August 2014 were pretty much the same….with marginal revenues gains being cancelled out by an increase in outlays.