The federal government has lost control of spending habits. Past presidents (especially the current one) have made promises to balance the budget but end up going back on their word and justifying their spending addictions.
Rather than taking a president's word, a law must be put in place to forbid any government organization to spend more than is received in taxes and other forms of revenue. Many states already have it written in their constitutions that no law can authorize any debt to be contracted except for a few specified exceptions (e.g., see Indiana's constitution, Article 10, Section 5).
When a family's expenses exceed income, that family must cut back on expenses. He cannot give himself a raise like our government does (through tax hikes). Overspending must stop!