February 14, 2018 – President Trump on February 12 submitted a budget request that called for $4.4 trillion in federal spending in 2019, offset by $3.4 trillion in tax and other receipts, leaving a deficit of $984 billion. But the budget was already outdated on the day it was released – while the FY 2019 budget was at the printers, Congress passed and the President signed a law allowing an extra $295 billion in appropriations over the 2018-2019 biennium. So the real deficit is expected to be around $1.2 trillion under the President’s plan.