The US daily Cash Deficit for 4/5/2013 was $1.7B bringing the total April Deficit through a week to $66B.
Today’s charts give us a glance at 2013/2012 that is more or less aligned…each has 5 business days, and a full Monday-Friday sequence (I included 4/6/2012). Notice anything? Yep…revenues are down. It’s just one week, and there is plenty of action left, but it’s not what I had expected….which was for 2013 revenues to be over 2012 by $5-7B by now. Instead, tax deposits withheld are only up 2% while total net revenue is actually down. It may be nothing…just a timing quirk, but I will definitely keep an eye on it. If 4/15 goes big one way or another, we may not even notice, but it will be interesting if revenues are still down (or even) through this Friday 4/12. Cost is where expected, and the deficit still has a $33B hole to dig out of….stay tuned.
