The US Daily Cash Deficit for 6/4/2013 was $6.1B bringing the June 2013 deficit through 4 days to $20B. While this appears to be a $30B improvement over 2012…it’s not really….remember $30B of June outlays were pulled into May, so adjusted for that, we are more or less in line, but with only 2 business days in the books, it’s really too early to identify any trends.
Looking ahead, the next week or so should be pretty low key… we’ll probably run a $10-$20B deficit over this time period. Then, around mid month, corporate taxes and taxes not withheld should start flowing in…probably bringing us back into surplus territory. Then…at some point, Fannie Mae is supposed to send a $60B special one time dividend, thanks to their decision to drop GAAP and convert to Enron Accepted Accounting Principles (EAAP)…..which are almost(but not quite) as shady as government accounting principles :).
