The US Daily Cash Deficit for Wednesday 5/28/2014 was $15.1B as the last round of May SS payments went out, more or less syncing up 2013 and 2014 outlays….though May 2014 will have one less business day when it’s all said and done. The May 2014 deficit through 28 days stands at $109B with 2 remaining business days in the month.
Revenue takes a step back and now stands at -1.5B YOY…however, there appears to be a $2.5B timing issue with excise taxes that should resolve itself 5/29…and push May 2014 past May 2013 for the first time this month. As for the deficit…May 2013 ran a $39B deficit over its last 2 days, so absent a material improvement…a $140B+ deficit seems likely.
