The US Daily Cash Surplus for Friday 6/21/2013 was $0.7B as those “tax deposits not withheld” continue to flow in strongly. So while they were off to a slow start…the longer tail has helped close the gap to -6% vs last year….not nearly as dire as the -20% we were looking at earlier in the week, but still well under the +32% gains we saw over the first 4 months of 2013.
The Chart continues to faux impress (is that a phrase?) Revenues up 6%, cost down 20% due to timing, and bona fide decreases in outlays. I’m still waiting for the $60B from Fannie Mae…early reports from last month had mentioned it being paid in June, but I haven’t heard a peep since then. At first, this surprised me, but then I thought…. the circumstances surrounding it are so shady, I guess I’d try and keep it quiet too. 5 days left….then on to July and August…expect ~$100B deficits in each :(. Oh well….the surpluses were fun while they lasted.