Analysis of the Deficit, Fiscal Cliff, and US Debt
Daily US Deficit For 12/05/2012
The Daily surplus for 12/5 was $2.3B, bringing the deficit through 5 days down to $21.3B.
Compared to the prior two years, we look to be overperforming, posting a deficit 34B under where we were last December through 5 days. Some of this is due to some early December payments getting pulled into 11/30…which posted a single day deficit of $38.4B. The rest I suspect is just timing. It usually takes a week or two before the monthly and daily timing issues shake out and become noise. Looking ahead, I think we’ll have a much better idea how December is going to shake out after 12/17…which I believe is when we will get a glimpse at quarterly corporate income taxes. This would have been on the 15th, but since this year the 15th is on Saturday… we’ll probably see a spike of payments 12/17. Last year, the 12/15 cash in from corporate taxes was almost $41B…I wonder how 2012 will compare?