Taxes

Chart: How the U.S. budget deficit has fluctuated since the 1980s

The U.S. budget deficit grew 77% in the first 4 months of the 2019 fiscal year (beginning Oct. 1) from the year prior, driven by sweeping tax cuts passed at the end of 2017 and increased federal spending.

Data: Factset; Chart: Naema Ahmed/Axios

The big picture: President Trump is acting true to history. Every Republican president since Reagan has left office with a budget deficit higher than the one he inherited. Clinton and Obama, by contrast, left office with smaller deficits.

AOC challenges Chase Bank's "heinous" tweet

Rep. Alexandria Ocasio-Cortez (D-N.Y.) reprimanded Chase Bank on Twitter midday Saturday for suggesting that people who struggle with bills or have poor credit are irresponsible, calling the financial institution's comments "heinous."