Trump blames media for ignoring his fiscal progress, hints at big tax cuts

President Donald Trump again escalated his attack against the media, saying the large sections of it had ignored the lowering of national debt in the first month of his tenure in office. He also hinted at going in for big tax and regulation cuts as his administration prepares its first budget proposal.

"The media has not reported that the National Debt in my first month went down by USD 12 billion vs a USD 200 billion increase in Obama's first month," he tweeted.

With the U.S. national debt expanding rapidly over the past decade, the state of the federal budget has come under intense scrutiny. The annual deficit spiked following the 2008 financial crisis, and budget analysts say that without reform government spending will continue to outpace revenue.

"Great optimism for future of U.S. business, AND JOBS, with the DOW having an 11th straight record close. Big tax & regulation cuts coming!," he added.

As President Trump prepares his administration's first budget proposal, his ambitious plans for new spending and tax cuts have unnerved some fiscal conservatives who would like to see deficit reduced.

Earlier, still under fire for his "enemies of the people" barb directed towards certain sections of the U.S. media, President Trump has done it again by projecting the press as "a great danger" to America.

"FAKE NEWS media knowingly doesn't tell the truth. A great danger to our country. The failing @nytimes has become a joke. Likewise @CNN. Sad!," the President said taking to Twitter.

This comes after the President had earlier repeated his controversial "enemies of the people" taunt for the press at the Conservative Political Action Conference (CPAC), where he continued to lash out at the "dishonest media" and made an ominous promise saying that "we're going to do something about it."

Trump released some of his intense wrath for the media, repeating his description of them as "enemies of the people".