The US Daily Cash Deficit for Friday 2/6/2015 was $9.5B bringing the February 2015 deficit through 6 days to $39B.
As expected, refunds dominate the chart, with 2015 back out to a $14B lead that is holding back net revenues in a big way. As it stands, revenue is down and outlays are up…..but adjusted for timing and pulling refunds out, it’s not so bad….yet. Withheld taxes show a glimmer of hope at +7% and $4B. While dwarfed by refund noise so far, this is by far the largest revenue source, so establishing a solid growth base here would be a positive development. For the year, this category is at +3.6% after a not so great January, but the year is young.