Oct 23, 2023

Why the U.S. budget deficit surged in the past year

Stefani Reynolds/AFP via Getty Images

The U.S. government ran a budget deficit of about $1.7 trillion for the 2023 fiscal year, up 23% compared to the year before. How did we get here?

Segments From this episode

Israel-Hamas War

A look at the history of U.S. aid to Israel

by Nancy Marshall-Genzer

Oct 23, 2023

The U.S. has given Israel $158 billion since Israel was founded, not adjusting for inflation, according to the Congressional Research Service.

Above, President Joe Biden addresses the nation on the war between Israel and Gaza on Oct. 19. Biden's request for $14 billion in aid for Israel has yet to come before the speaker-less House.

Jonathan Ernst/Pool/AFP via Getty Images

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National Debt

Why the U.S. budget deficit grew so much in the last year

by Sabri Ben-Achour and Alex Schroeder

Oct 23, 2023

No surprise: Inflation, higher interest rates and the pandemic all play a role.

Chip Somodevilla/Getty Images

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Music from the episode

Testify Rage Against The Machine

The team

David Brancaccio Host

Leanna Byrne Host, BBC

Kelly Silvera Executive Producer

Meredith Garretson Morbey Senior Producer

Alex Schroeder Producer

Erika Soderstrom Producer

Ariana Rosas Producer

Nic Perez Director/Producer

Dylan Miettinen Digital Producer

Jesson Duller Media Producer

Brian Allison Technical Director

Nick Esposito Media Producer

James Graham Producer, BBC

Jo Critcher Producer, BBC

Naomi Rainey Producer, BBC

Lis Mahy Producer, BBC

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