The US Daily Cash Deficit for 9/19/2013 was $1.7B bringing the September 2013 Surplus through 19 days to $34B with seven business days remaining. We are still seeing strong cash inflows from “taxes not withheld” at $5.7B, but they do appear to be tapering down, which is what we would normally expect….ending under $1B per day by late next week. As it stands today, YOY, corporate taxes are up 1%, excise taxes are up 5%, taxes not withheld are up 7%, and taxes withheld from paychecks are up 12% :(.
All together, revenues made up another $1B of ground yesterday but are still $2B under September 2012 thanks to the decrease in TARP repayments. Another day…no surprises.