The US Cash Deficit for 8/23/2013 was $1.8B bringing the August 2013 Deficit through 23 days to $119B. Revenue pulled to within $1B of last years pace with five business days to go. Getting to the +20B needed for 10% YOY gains doesn’t look like it is going to happen this month…absent some revenue surprise, but we’ve seen those before.
Outlays look like they are showing a $24B improvement…but the final social security payment that goes out Wednesday should wipe out about $12B of that. My $155B estimate for the August deficit is starting to look a bit conservative. Monday will likely post a small surplus…followed by moderate deficits Tuesday-Thursday, and a large deficit Friday, perhaps $30-$40B as payments due 9/1 are made a day early…
