Thursday, March 3, 2011

YoY February Fiscal Posture

Data for February (YoY):

Feb 2010:

Total Treasury Account Withdrawals: 869
Minus Treasury Redemptions: 442
Equals Net Treasury Withdrawals: 427

Total Treasury Account Deposits: 819
Minus Treasuries Issued: 617
Equals Net Treasury Account Deposits: 202

Feb 2010 Deficit: 225B for the month

Feb 2011:

Total Treasury Account Withdrawals: 1,009
Minus Treasury Redemptions: 585
Equals Net Treasury Account Withdrawals: 424

Total Treasury Account Deposits: 851
Minus Treasuries Issued: 660
Equals Net Treasury Account Deposits: 191

Feb 2011 Deficit: 233B for the month

So YoY for the month of February, the fiscal deficit has increased by $8B (225B to 233B), due to a reduction in deposits (tax receipts), as net withdrawals (spending) are actually down, nominal, by $3B, YoY for February.

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