The US Daily Cash Deficit for Wednesday 7/16/2014 was $2.0B bringing the July deficit through 16 days to $70B with 11 business days remaining.
Thankfully…it turns out that revenue shortfall I discussed with the 7/15 deficit was apparently timing…apparently there is some withheld taxes due on the 16th…about $8B worth, which added to healthy Fed Reserve earnings gets us back down to -$3B, which isn’t bad at all considering we will pick up an extra business day at the end of the month. Of course the same goes for outlays….which at $10B short now, appear to be on track to equal last year.
All together…it was a good day. We appear to be back on track to have a decent month…nothing phenomenal…but better than disastrous. Corporate taxes are standing at +12%, which is only good for $1B….but we’ll take it. In other news…Medicaid still appears to be running hot….perhaps at a 15% growth.
