The federal deficit has jumped from $779 billion in fiscal year

Wildwood Crest - The federal deficit has jumped from $779 billion in fiscal year 2018 to $984 billion in 2019. That's a 26% jump, and the deficit's highest point since it was coming down from the recession in 2012. The deficit saw a big jump as the recession kicked in in 2008, and that number hasn't been reached since. The deficit has been on an upward swing under President Trump, and has increased dramatically since the 2017 Tax Cuts and Jobs Act was passed. The GOP tax package is expected to help push the deficit over $1 trillion by 2020. Trump had often pledged to cut the deficit while campaigning.