If the anniversary celebration for Trump’s “liberation day” tariffs didn’t already ring hollow, it should now.

WASHINGTON—President Trump is reshaping how the federal government collects money and where that cash gets spent—while doing little, on net, to rein in yawning federal deficits. In Trump’s first year ...

President Trump said he would balance the federal budget "overnight." In reality, debt is now approaching the highest level ...

While the federal deficit has started to shrink under President Trump, his plans could make the long-term situation worse.