FEDERAL DEBT

When declaring his candidacy, Trump said he would “reduce our $18 trillion in debt.” He later took those vows a step farther, declaring that he would not just balance the budget, but pay down the entire national debt.

WHAT HAPPENED: The opposite. The U.S. budget deficit through the first four months of this budget year is up 19% from the same period a year ago, putting the country on track to record its first $1 trillion deficit since 2012. The deficit reflected government spending that has grown 10.3% this budget year while revenues were up only 6.1%. The deficit has gone up every year of Trump’s presidency. The national debt now stands at more than $23 trillion.