US Daily Cash Deficit 7/14/2014

The US Daily Cash Surplus for Monday 7/14/2014 was $8.3B bringing the July deficit through 14 days down to $65B.

2014-07-14 USDD

At first glance…revenues and outlays appear to have collapsed….but in reality it’s all timing. Since we’ve adjusted for day of week…2013 is a day ahead… at Monday 7/15/2014. This usually gets us a better (if still imperfect) YOY comparison, but it so happens that a lot of things happen on the 15th of a month. On the revenue side…we generally see increased revenues, but the magnitude depends on the month…quarters are much higher. For July, we can probably expect $5-10B of corporate taxes. On the outlay side…we have Military Active Duty Pay which goes out the 1st and 15th, plus we also have interest payments due…again it varies quite a bit from month to month, but this year it will probably be about $5B.

We should be more or less back in sync after tomorrow…let’s hope our revenue hole has shrunk to ~5B or so…instead of the $16B we see in today’s chart.