Through the first 11 months of the fiscal year, federal tax revenues were down 9.4% from $1.83 Trillion to $1.66 Trillion.
Through the first 11 months of the fiscal year, federal spending was up 6.9% from $1.74 Trillion to $1.86 Trillion.

Democrats point to the tax cut as the reason for declining revenues, whereas Republicans point to the recessed economy. Whichever reason you belief, the increased spending is clearly a problem as well. It should also be noted that revenue from individual incomes was down 16% from last year.