Analysis of the Deficit, Fiscal Cliff, and US Debt
Daily US Deficit For 2/13/2013
The US Daily Deficit for 2/13/2013 was $23.3B bringing the February deficit to $116B, almost completely closing the $35B gap between 2013 and 2012 we saw as recently as yesterday. With net revenues and outlays flat, and refunds accelerating, we appear to be on track for another February deficit in the $250B range. It is worth noting that gross tax deposits unadjusted for refunds are higher than 2012 by 8%, unfortunately, that’s only $6B, just barely enough to pay for about half of the refunds that went out just yesterday. Just a final note, net revenue does show as negative for 2/13, this is because refunds issued exceeded tax deposits.