The US Daily Cash Deficit for 7/1/2013 was $31.9B…burning through half of June’s payday loan from Fannie Mae in a single day!! Why doesn’t treasury tweet that?
It’s way too early to look for trends, but we see revenue up 4%. Cost appear to be up huge…but if you recall from the June discussion, in 2012, July had about $35B shifted into June….take that out and we’re pretty even.
Looking back, July 2012 posted an $82B deficit…despite the cost shift. I’m going to guess we end up in the same ballpark…say $80B. That assumes that we’ll see about 10% revenue growth and modest decreases in outlays….more or less making up the $35B hole we are starting in. So let’s sit back and let the facts start rolling in!!