The US Daily Cash Deficit for Wednesday 7/24/2014 was $8.4B bringing the July 2014 deficit to $80B with 6 business days remaining.
That revenue timing issue we discussed yesterday has resolved, pushing us back to +$4B for the month. Looking to last year, the deficit over the last week of the month was negligible with surpluses and deficits netting out. If that continues…we would end this month $20B over my $60B deficit forecast and $10B under last July’s $90B deficit. I really don’t know, but I’d be more inclined to guess we drift down a bit from here (because I’m an optimist 🙂 )….but down to $60B seems highly unlikely….maybe $75??
