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Treasury Secretary Scott Bessent and President Donald Trump look on during the White House Digital Assets Summit in the State Dining Room of the White House on March 7, 2025, in Washington, D.C. (Anna Moneymaker / Getty Images)

Trump Delivers Blow to Federal Deficit, As It Drops by 20 Percent from Biden

By Randy DeSoto December 16, 2025 at 9:33am

Treasury Secretary Scott Bessent reported some good news on the nation’s fiscal front after years of profligate spending during President Joe Biden’s administration.

“Thanks to President [Donald] Trump, the health of the U.S. government’s finances is improving,” Bessent posted on social media.

“The current calendar year-to-date deficit is $1.52 trillion, which compares to a deficit of $1.93 trillion for the comparable period last year under Biden, a 21% drop,” the treasury secretary wrote.

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Randy DeSoto

Contributing Journalist

SummaryMore Biographical InformationRecent PostsContact

Randy DeSoto has written more than 4,000 articles for The Western Journal since he began with the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book "We Hold These Truths" and screenwriter of the political documentary "I Want Your Money."

@RandyDeSoto

Randy DeSoto wrote and was the assistant producer of the documentary film "I Want Your Money" about the perils of Big Government, comparing the presidencies of Ronald Reagan and Barack Obama. Randy is the author of the book "We Hold These Truths," which addresses how leaders have appealed to beliefs found in the Declaration of Independence at defining moments in our nation's history. He has been published in several political sites and newspapers.

Randy graduated from the United States Military Academy at West Point with a BS in political science and Regent University School of Law with a juris doctorate.

Birthplace

Harrisburg, Pennsylvania

Nationality

American

Honors/Awards

Graduated dean's list from West Point

Education

United States Military Academy at West Point, Regent University School of Law

Books Written

We Hold These Truths

Professional Memberships

Virginia and Pennsylvania state bars