The US Daily Cash Surplus for 3/25/2013 was $4.6B, dropping the March 2013 deficit through 25 days to $76B versus $82B for a year ago, giving 2012 it’s first lead in a while. It won’t last for long, but we should enter the last business day of the month neck and neck around $100B. Then, 2012, which posted a $34B deficit on 3/30/2012 should rocket past 2013, leaving us with a respectable YOY deficit improvement, at least on paper.
One final note on refunds. 3/2013 refunds are running about $10B over 3/2012, but have been more or less flat for several weeks now. Through almost 3 months, 2013 refunds are $15B under 2012, making it a distinct possibility that 2013 refunds are just going to come in under what we saw last year. A recent article at Money suggests the same, and also goes on to say that more people expect to owe money this year. If this is accurate, we could see a respectable spike in revenues on 4/15/2013…stay tuned!! That would be good news…well kinda…unless you are paying them.