In March 2017, Vice President Pence said Trump did not want a budget that would increase the deficit. Two months later, the White House proposed a budget that the Congressional Budget Office said would increase the deficit.
In June 2018, White House economic adviser Larry Kudlow said the deficit was “coming down rapidly” (it wasn’t); he later clarified that future deficits would be lower. Since then, the federal deficit has grown to the fifth-highest level in U.S. history.
And 17 months after then-budget director Mick Mulvaney said that deficit spending was needed to grow the economy, acting budget director Russell Vought told reporters in March that deficit spending was not needed to grow the economy. Over that time, the United States added approximately $1.7 trillion to the debt.
In March 2016, Trump himself promised to eliminate the entire national debt in eight years when it was at $19.2 trillion and made up approximately 76 percent of GDP. Today, it is over $22 trillion and on track to account for 79 percent of GDP in fiscal 2019.
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