The US Daily Cash Deficit for Wednesday 9/17/2014 was $4.3B following 9/16’s $16.9B surplus, bringing the September 2014 surplus through 17 days to $43B.
As discussed in the last post, taxes not withheld have begun to flow in at elevated levels thanks to it being a quarter end month and the related tax deadlines. Currently taxes not withheld from paychecks are running at +12% YOY…a good showing, but not in line with corporate taxes which are still at +30%. Overall revenues are up 12%…if we stay at this level, it will be the first month at +10% since March. In other…perhaps related news….Stocks ended the day at record highs.