On the day Treasury
issued stopped hiding $328B of debt, many will probably be surprised that they actually ran a $$1.6B cash surplus. How is that possible?? Simple….pretending you don’t have debt….then remembering you do….has absolutely no affect on cash. And that’s what I report on here…the cash deficit…. not the “ modified accrual make believe” deficit.
So ignoring all of the debt drama….revenues were strong, and outlays continue to be extraordinarily weak. I guess it will take a few weeks for the government’s AP group to dust off the printers and start cranking through the backlog of unpaid bills…..hopefully they at least start with themselves….that 2 week paid vacation sounds like a pretty sweet perk to me. Where do I sign up? We get to do this again in February right? Cancun anyone?