Another good day for revenues gaining another $2B while outlays fall $1B YOY fo a$3B overall improvement. This is likely our last day of large taxes “not withheld” with $8.8 vs $7.9B a year ago. They will likely fall to a trickle by the end of the week.
Looking at the whole month…revenues stand at +6%…outlays at +5%. We’ll have to wait until month end to be certain, but it is looking like aside from the $6B of interest that was pushed from May into June…Medicaid and Medicare are going to be a big part of the increase in outlays. Medicaid at $21.3B has already surpassed last June’s full month at $21.1B and there are still 5 full days left, with a ~1B daily run rate, topping $25B looks likely, which would be an 18% YOY gain. Medicare also looks a little hot, running a few $B over last year