The widening deficit, which is contributing to the nation’s increasingly dire long-term fiscal outlook, comes despite Trump’s 2016 campaign pledge to eliminate the gap over the course of two presidential terms. Instead, the national debt topped $22 trillion just two years into Trump’s tenure and is expected to soar to almost $29 trillion in 10 years.

The Treasury Department’s data proves that the U.S. is “in uncharted waters,” said G. William Hoagland, senior vice president at the Bipartisan Policy Center.

“The current levels of debt are unprecedented in peacetime during a growing economy, and the consequences of this irresponsible spending are unknown,” he said in a statement. “This administration came into office talking about reducing deficits, and the results have been the exact opposite.“

The deficit has more than doubled since 2015, widening in part due to the 2017 GOP tax law which CBO projected would add $1.9 trillion to deficits over a decade.

The bipartisan budget package Trump signed in August is also projected to add roughly $1.7 trillion to deficits through 2029. The agreement increased military and non-military spending limits by $320 billion above the budget caps that would have taken effect if Congress had failed to stop sequestration.

Trump urged fiscal conservatives in Congress to support the budget deal this summer, tweeting that “there is always plenty of time to CUT!“

Analysts say the ballooning federal debt and deficit threaten federal safety net programs, could drive down incomes and hinder the federal government's ability to respond in a crisis.

The federal government made about $380 billion in interest payments on its debt last year, which is “the fastest growing program in the federal budget,” said Michael A. Peterson, CEO of the Peter G. Peterson Foundation, which advocates for awareness about the nation's long-term debt.

“That’s not where we want growth,” he said in a statement. “If we stay on this path, we’ll leave our kids and grandkids with diminished resources, opportunity and quality of life.“

