Analysis of the Deficit, Fiscal Cliff, and US Debt
3/11/2013 Daily US Cash Deficit
The US Cash Surplus for 3/11/2013 was $3.2B on strong Monday revenues. The March 2013 deficit through 11 days is $66B, starting to show some divergence from 2012, but I suspect this will go away tomorrow when the 2012 GSE MBS Purchase Program Income discussed yesterday shows up in 2012, but not in 2013. (unless it does!!)
It is also worth noting that 2010 and 2011 had two additional business days over 2012/2013 through 11 days, and already had their 2nd round of SS payments go out. March 2013 refunds are running $5B over last year…not a huge variance yet, but possible evidence that they are catching up on processing refunds.