Total Treasury Account Withdrawals: $2,858
Minus Treasury Redemptions: $1,693
Equals Net Treasury Withdrawals: $1,165
Total Treasury Account Deposits: $3,038
Minus Treasuries Issued: $2,240
Equals Net Treasury Account Deposits: $798
M/A/M 2010 Deficit: $367B for the quarter
Total Treasury Account Withdrawals: $2,954
Minus Treasury Redemptions: $1,812
Equals Net Treasury Account Withdrawals: $1,142
Total Treasury Account Deposits: $2,883
Minus Treasuries Issued: $2,005
Equals Net Treasury Account Deposits: $878
M/A/M 2011 Deficit: $264B for the quarter
So YoY for the 3 months ended May, the fiscal deficit has decreased by $103B (367B to 264B), due to a increase in deposits (either tax receipts, or perhaps the Fed refunding it's outsized "profits" due to QE to Treasury this year), as net withdrawals (spending) are actually down, nominal, by $22B, YoY for these same 3 months.
Total loans and leases (TLL) in bank credit rose by $9B over this same 3 month time period this year to $6,725B, but at the end of May 2010, total loans and leases stood at $6,893B, so hard to tell what TLL did YoY for the 3 months ended May, but we at least can see that TLL have collapsed by $168B (that's baaaaad) YoY for the year ended May.
With TLL still contracting YoY, and total government spending down $22B, it looks like we are looking at a negative GDP number for these 3 months, unless net imports have decreased by a greater amount.
This is pretty bad when the best thing we can look forward to is a hope that we imported less to get us some US GDP "growth".