Analysis of the Deficit, Fiscal Cliff, and US Debt
Daily US Deficit For 2/11/2013
The US Daily Surplus for 2/11/2013 was $2.0B bringing the February deficit through 11 days to $83B. Timing issues are mounting as evidenced by the differences in revenues and outlays. 2012 has an additional business day and an additional Social Security payment pushing up its outlays compared to 2013, and the ongoing timing of refunds which is still in the $15-20B range, though 2013 has made some small gains. We appear to definitely be on pace for a $200B+ deficit for Jan, and if refunds start catching up, we could be pretty close to last year’s $249B deficit.