Analysis of the Deficit, Fiscal Cliff, and US Debt
Daily US Deficit For 1/23/2013
The US Daily Surplus for 1/23/2013 was $2.5B on very strong income tax receipts “not withheld” This is generally taxes paid on investment income and submitted quarterly, or as incurred, unlike taxes withheld from a workers paycheck and remitted every other week by the employer. With 8 days to go, 2013 is already $5B over where 2012 ended in this category. This could be strong evidence of high income individuals pulling income into 2012 to take advantage of the low tax rates before they increased in 2013…or, it could be evidence of a strong recovery…but we’ll just have to wait and see.