The Trump Administration is on the path to rack up a trillion dollar deficit for fiscal year 2018-2019, due to a combination of declining total tax revenues and administrative overspending.
The federal government collected a record $1,521,589,000,000 in individual income taxes through the first eleven months of fiscal 2018 while corporation income tax collections and total federal tax collections were in decline.
Trump needs to work on cutting spending in order to reduce the massive deficit he has accumulated this past year. It wasn’t good when Obama did it and it’s not good that Trump is doing it.