The Us Daily Cash Deficit for Tuesday 7/21/2015 was $8.9B bringing the July deficit through 21 days to $75B with 8 business days remaining.
The revenue YOY is down $1B, with ~4B of that being Justice department receipts from last year we didn’t expect to see again. If you pull that out, revenues are at ~+2% and slowly gaining….+5% is definitely a possibility but not guaranteed to end the month. After starting the year through 4 months at +10% YOY revenue growth, May/June averaged only 4.5%, and we look like we are headed for a similar outcome. Slowdown?? On the other hand, I suppose +4.5% isn’t too bad, but with Outlays growing at +3.2%, it’s not enough to continue driving the deficit down at the rate we have seen over the last few years.