Trump promised that he would balance the budget within five years, but last month the U.S. set a record with its largest-ever monthly budget deficit, in large part because of the massive tax cuts Trump gave to the rich and big corporations.

THEN: During the campaign, Trump suggested he could balance the budget within five years.

Trump: “There are so many things that we can cut and we can balance the budget very quickly.”

Hannity: “You think in five years?”

Trump: “I think over a five-year period. Maybe I could even surprise you.”

NOW: The budget deficit hit an all-time high last month of $234 billion, in large part because of the Trump tax law.

Washington Post: “The government set a record with a $234 billion deficit in February”

Bloomberg: “U.S. Posts Largest-Ever Monthly Budget Deficit in February”

Los Angeles Times: “U.S. posts largest-ever monthly budget deficit as corporate tax receipts plunge”