Trailing 5 month Fiscal Surplus/Deficit

Some data below on the fiscal surplus or deficit that the government sector has run over the last several months:

• September 2012:  $59B surplus
• October 2012:  $122B deficit
• November 2012:  $188B deficit
• December 2012:  $20B surplus
• January 2013 (mtd):  $38B deficit

So that is cumulative $269B deficit over this time.  Or, over approximately these 92 statement days, an average of $2.9B per day of $NFA injection.

For the 5 months ended July 2011, the culmination point for the last time we operated for a substantial time at the "debt ceiling", this total was $406B, or an average of approximately $4B per day of $NFA injection.

Those months breakdown as follows:

• March 2011:  $153B deficit
• April 2011:  $11B deficit
• May 2011:  $100B deficit
• June 2011:  $43B deficit
• July 2011:  $99B deficit

If we remove the high September 2012 surplus of $59B and just look at the present trailing 4 months ended January 2013, the $NFA flow rate is $4.55B per day over those 72 statement days.