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Deficit Watch: January 16th

Summary:
Oh boy I can't wait to see how big the deficit is this month so far with all the tax cuts...Lets see here in the Cash Basis DTS thru January 16th:Total Withdrawals 636B - 440B Treasury Redemptions = 196B net withdrawalsSubtractTotal Withdrawals 666B - 463B Treasury Issues = 203B net deposits196B - 203B  equals..... wait for it .... -7B   ..... ie a SURPLUS!?!?!?Say it aint so!!!!Man-o-man.... How is the deficit going to ever get to .5T this year as EVERYBODY has been saying?Hmmmmm...  withdrawals better get going and pronto...

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Oh boy I can't wait to see how big the deficit is this month so far with all the tax cuts...

Lets see here in the Cash Basis DTS thru January 16th:

Total Withdrawals 636B - 440B Treasury Redemptions = 196B net withdrawals

Subtract

Total Withdrawals 666B - 463B Treasury Issues = 203B net deposits

196B - 203B  equals..... wait for it .... -7B   ..... ie a SURPLUS!?!?!?

Say it aint so!!!!

Man-o-man.... How is the deficit going to ever get to $1.5T this year as EVERYBODY has been saying?

Hmmmmm...  withdrawals better get going and pronto...

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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