Analysis of the Deficit, Fiscal Cliff, and US Debt
4/10/2013 Daily US Cash Deficit
The US Daily Cash Deficit for 4/10/2013 was $9.5B bringing the April Deficit through 10 days to $73B. We do see tax deposits continue to edge up, now about 6% over last year, but net revenues are only up 3%. Not that it matters in the big picture, but it is worth noting that 4/2013 will have one more business day than 2012, which should help revenue a bit at the end, but hurt cost. There is one promising metric…Taxes not withheld from paychecks…for example taxes due paid by check (because you didn’t withhold enough) are up 17% compared to last year, good for $2B. It’s not much in the big picture, but if we extrapolate it, it could mean some big revenue gains next week… or it could mean nothing at all.