Washington (CNN) The US national debt stood at $21.974 trillion at the end of 2018, more than $2 trillion higher than when President Donald Trump took office, according to numbers released Thursday by the Treasury Department.

The national debt has been rising at an accelerated rate in the aftermath of the 2008 financial crisis, when Congress and the Obama administration approved stimulus funding in order to keep the economy afloat.

The debt began to level off at the beginning of Trump's term, but bounced up again last year as the tax cuts passed at the end of 2017 took effect and the dramatically lower corporate tax rate lowered Treasury revenues.

As a candidate, Trump promised to "get rid of" the national debt, telling the Washington Post in 2016 that he could make the US debt-free "over a period of eight years."

According to the Congressional Budget Office , total public debt stood at 78% of America's gross domestic product in fiscal year 2018, the highest percentage since 1950. The deficit -- or the difference between what the government spends and what it takes in over any one year -- jumped to 3.8% of GDP in 2018, up from 3.5% in 2017.

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