The US Daily Cash Deficit for 3/28/2013 was $6.2B bringing the monthly total through 28 days to $106B.
The US Daily Deficit for 3/27/2013 was $15.2B on the $11.8B last round of social security payments going out. With two business days remaining, March 2013 is sitting at $100B. All eyes are on Friday…which of course will be reported Monday April 1, no jokes!!
The US Daily Cash Deficit for 3/26/2013 was $8.3B, bringing the March deficit through 26 days to $85B. With 3 business days remaining, it looks like we are zeroing in on $105B or so, with the possibility of a $+15B surprise depending on how Medicare costs flow in.
The US Daily Cash Surplus for 3/25/2013 was $4.6B, dropping the March 2013 deficit through 25 days to $76B versus $82B for a year ago, giving 2012 it’s first lead in a while. It won’t last for long, but we should enter the last business day of the month neck and neck around $100B. Then, 2012, which posted a $34B deficit on 3/30/2012 should rocket past 2013, leaving us with a respectable YOY deficit improvement, at least on paper.
One final note on refunds. 3/2013 refunds are running about $10B over 3/2012, but have been more or less flat for several weeks now. Through almost 3 months, 2013 refunds are $15B under 2012, making it a distinct possibility that 2013 refunds are just going to come in under what we saw last year. A recent article at Money suggests the same, and also goes on to say that more people expect to owe money this year. If this is accurate, we could see a respectable spike in revenues on 4/15/2013…stay tuned!! That would be good news…well kinda…unless you are paying them.
The US Daily Cash deficit for 3/22/2013 was $0.5B, inching the March Deficit through 22 days to $81B, pretty much in line with last year with lower revenues being offset by lower outlays. With 5 business days remaining, a conservative estimate would be that we end the month at $100B versus $125 on the high end, with most of the delta being the timing of ~$16B of Medicare payments.
