US Daily Cash Deficit 6/24/2014

The US Daily Cash Deficit for Tuesday 6/24/2014 was $3.0B bringing the June 2014 Surplus through 24 days to $74B.

2014-06-24 USDD

Revenues up a bit, outlays down a bit, adding up to a $1B gain for 2014 over 2013. There are only 4 business days remaining in the month, but still some uncertainty about exactly where the surplus will end up. I am expecting$10-15B of deficit over the next 3 days, offset by a sizable surplus Monday….I just don’t know how big…it will likely be between $15-$25B. So…I guess $somewhere between a $70B surplus and a $90B surplus….let’s just call it $80B, compared to last June’s $116B surplus.

Still…some solid revenue numbers have been put up so far. Withheld taxes are up by 5.5%, Corporate taxes are up 8.5%, and taxes not withheld are up 12.6%, and all will get a bump Monday from the extra business day, putting +10% within reach for all…though overall revenues will be down due to Fannie Mae’s June 2013 accounting gain distribution. Then…it’s on to July….where maybe we’ll find out whether the anomaly was April/May at 1% revenue growth…..or June at ~10%…. Or maybe July will just split the difference and leave me confused for a few more quarters.