Analysis of the Deficit, Fiscal Cliff, and US Debt
4/15/2013 Daily US Cash Deficit
The US Daily Cash Surplus for 4/15/2013 was $48.9B… a huge day by any measure, and a $32B improvement over 4/16 day 2012 which rang up an $17B surplus. Needless to say, $48.9B far exceeded my expectations…I double checked twice to make sure I had it right. A little googling sheds some light…tax day last year was actually 4/17, due to the 15th being on a Sunday and Emancipation Day on the 16th. (Now I remember!!) The two day surplus for the 16th and 17th last year was $56B…It does seem likely that 2013 will exceed that, but because of this timing issue, we are probably going to have to wait a few extra days for the dust to settle. Bottom line, it appears to be a very good start to this phase of the Tax season (deficit wise…not so much for taxpayers)…let’s sit tight and see how it finishes. We should continue to see healthy tax revenues for the next few weeks before we fall off the wagon again in May.