US Daily Cash Deficit 10/28/2014

The US Daily Cash Deficit for Tuesday 10/28/2014 was $6.8B bringing the October 2014 deficit to $66B for the month with 3 business days remaining.

2014-10-28 USDD

For the month, revenues are looking solid at +7% an poised to pick up some more by month end.  10% is certainly within striking distance and probably likely, which would make it the second month in a row with impressive revenue growth. Outlays are down, but should even out Friday when the days even back out…then surpass 2014 on month end timing as ~$20B of payments due 11/1 will get pulled forward into October… unlike last year.

My initial forecast for October was a $100B deficit. 3 days out, it is still looking like a reasonable estimate, but probably a bit on the high side…stay tuned, we’ll have our answer on monday 11/3.