US Daily Cash Deficit 9/15/2014

The US Daily Cash Surplus for Monday 9/15/2014 was $70.6B pushing September to surplus as expected….a total of $32B.

2014-09-15 USDD

This turned out to be a phenomenal day for corporate taxes with $59B worth flowing in vs just $42B last year good for a $17B and 30% YOY gain. this is definitely going to blow up my revenue forecast, but it’s good news(for the deficit…not so much corporations) so i’ll take it. I suppose the bottom line is…corporations are making more money and paying more taxes.

Looking at the Year To Date (YTD)….calendar…not fiscal….cash corporate tax payments are upĀ 15%…and corporate tax refunds are down 10%. Taxes withheld from paychecks are up 5%….taxes not withheld are up 4%. Total revenues are up 4.6%…..with the reduced Fannie/Freddie payments dragging down the total no doubt.

Bottom line….it was a pretty good day. With corporate taxes mostly behind us, we can focus on taxes not withheld which should be picking up to the $5-10B per day rate as early as tomorrow.