The US Daily Cash Deficit for Friday 2/20/2015 was $3.7B pushing the February 2015 deficit through 20 days to $139B.
Revenues are still looking ok at +$22B, with outlays more or less flat. Refunds, excluding the $10B of timing, are more or less on pace with last year. For the year, 2015 has $100B of individual tax refunds vs $99B last year…..so we aren’t seeing a drop off due to Obamacare or anything like that, at least not yet. We have 5 business days left, and are more or less on track to hit a $200B deficit +/-10B or so. Through 52 days, revenue is up 4.6%, a bit worse than I had expected, and outlays are flat versus my expectation of 2-3% growth.