Wednesday, February 17, 2010

Federal deficit at $430.69 billion through January



Annualized this will come in about $100 billion below last year's deficit. This does not auger for higher levels of GDP.

5 comments:

Matt Franko said...

Mike,
Does this data (I assume it is from the MTS) agree with your data you track in the DTS? Are they the same?

Mike Norman said...

Matt,

The trends are the same. My data shows "gross deficit," which does not make the cash basis adjustments that the Treasury makes in reporting the monthly deficit/surplus. Nor does it exclude certain "off balance sheet" items. The important thing, though, is that the trends are both showing the same thing.

Matt Franko said...

Mike,
I see. Last year, Feb and march were blow out months, with deficits of 194B and 192B respectively (and a stock market bottom). I dont look for a repeat.

MortgageAngel said...

I ran to my pc to put this comment up really quick because I'm in a hurry. This so obvious I can't believe I completely missed it until just now.

Why are we calling it a deficit when, by definition, it's not?

A spade is a spade is a spade no matter whose spade it is so if it's really a heart - don't call it a spade.

MortgageAngel said...

I wasn't kidding around :)