The US Daily Cash Surplus for 5/2/2013 was $1.8B on $9.9B in revenues and $8.1B of outlays leaving the May 2013 deficit through 2 days at $24B.
So far nothing out of the ordinary, but it did occur to me that with 5/31 being on a Friday, we will probably see about $20B of payments due 6/1 instead go out 5/31, essentially increasing the May deficit, and decreasing the June deficit by the same.
As you know, I am keeping a very close eye on revenues to see if what happened last month was a fluke, or an actual shift in the curve. 2 days is way to soon to tell much of anything, but it is worth noting that tax deposits not withheld…which grew 40% in April….have absolutely fallen off a cliff from $6.2B 4/30 to $327M yesterday. A drop off was expected, but I figured it would glide down under $1B over a week or so….not just stop once May came around.
