The national debt was already guaranteed to hit over $20 trillion in 2017 even before President Trump first took the office of the Presidency. This is certainly not due to the of lack of revenue/income (federal government has recently collected record total in tax revenues) but more so because of the out of control government spending. In fact the real per capita federal spending has increased more than sevenfold since fiscal 1941, which concluded on June 30 of that year. So what will President Trump do to help reverse the course?
UPDATE: In 2017 under Trump the national debt (federal government borrowing money to cover years of budget deficits) saw a "surprising" decline of $102 billion.
Unfortuanely even with all the actions President Trump has taken below, the federal government finished fiscal 2017 with a budget deficit of $666 billion, an increase of $80 billion over the previous year. It was the biggest shortfall since 2013 and the sixth-highest on record. The main reason? Higher spending by the Federal Emergency Management Administration (FEMA) for hurricane relief boosted overall outlays. The agency’s disaster relief spending climbed by 33% in 2017 due to three historic Hurricanes which costed up to $200 billion.
12/22/16: Boeing had come under Trump’s scrutiny when he discovered two Air Force One jets, planned for unveiling around 2023, would exceed a $4 billion price tag. But after meeting with Trump, the Boeing CEO said he would bring the jets in for well under the $4 billion price tag.
1/22/17: President Trump instituted an immediate government hiring freeze, signing a presidential memorandum that would affect a large swath of the executive branch. This excluded those working in the military, national security and public safety. Trump’s memorandum states that “no vacant positions existing at noon on January 22, 2017, may be filled and no new positions may be created, except in limited circumstances,” although the freeze does not apply to military personnel. A very small step in the right direction. Just a drop in a very large bucket. But the government has to start somewhere in cutting spending. Especially when considering the government spent $3.1 billion to federal workers on administrative leave in just 2014 alone
2/3/17: Defense giant Lockheed Martin has agreed to sell 90 new F-35 fighter jets to the US Defense Department for $8.5 billion -- a deal that amounts to more than $700 million in savings over the last batch of aircraft delivered. Lockheed Martin credited President Donald Trump for helping to "accelerate negotiations" and "drive down the price" of what is already the most expensive weapons program in history.
3/15/17: President Donald Trump signed an executive order that would mandate an evaluation of every executive department and agency to determine where money could be saved. Trump signed the “Comprehensive Plan for Reorganizing the Executive Branch,” the stated aims of which are to make the federal government more efficient, and improve agency and department services.
7/2/17: President Trump's leaner White House payroll has been projected to save tax payers over $22 million. Savings come from President Trump’s refusal to take a salary as well as big reductions in other areas including the absence of czars, expensive “fellowships,” , spending on FLOTUS staff and 110 fewer employees on White House staff.
7/28/17: The Trump administration ended low-income retirement savings Obam-era program. $70 million will initially be saved which was the cost to manage the program and likely would have costed an additional $10 million annually going forward. Participants were informed by the Treasury Dept that they could instead roll their money into a roth individaly retirement account.
8/29/17: President Trump and decided to shrink the government by eliminating Obama era vacancies. Secretary of State Rex Tillerson a day earlier told Congress that most of his agency's special envoy positions -- including dozens from the Obama administration -- will be eliminated and their responsibilities reassigned. Presiden Trump tweeted: "We are not looking to fill all of those positions. Don't need many of them - reduce size of government."
10/4/17: The Trump administration has saved $560 million by cutting regulations and meeting its promise to eliminate two old rules for every new one.
10/8/17: Keeping one of his many promises, President Trump continues to shrink the size of the government and it's debt by decreasing federal governemnt jobs by 13,000.
10/20/70: Following the steps of her husband, first lady Melania Trump is spending far less money than Michelle Obama As First Lady. Melania Trump has cut the bloated first lady payroll from the Michelle Obama days by more than half. During then-President Barack Obama’s first year in office, 16 people were listed working for Michelle Obama, earning a combined $1.24 million a year. This year, just four people were listed working for Melania Trump as of June. Their salaries totaled $486,700.