The US Daily Deficit for 2/12/2013 was $9.5B bringing the February deficit through 12 days to $92B. Refunds, once running $20B under 2012 have narrowed the gap to $11B. 2013 is currently $35B under last years’s deficit, but as we have been discussing, a lot of this is timing. I wouldn’t be surprised if tomorrow this narrows down to $15B or so as the second round of Social Security payments are made, especially if refunds continue to accelerate. The rest of the month looks like it will be more of the same…steady deficits in the $5-10B range, with the exception of this Friday, when an interest payment in the $30B range will be made, pushing the probable daily deficit up in the $40B range. The only other thing to keep in mind is that last February was a leap year, giving it one additional business day. All else equal (and we know it isn’t) this would lower our 2013 forecast by about $10B.
Here are the charts… Enjoy!!
