meta_pixel
Tapesearch Logo
Log in
Marketplace All-in-One

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

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 23 October 2023

⏱️ 8 minutes

🧾️ Download transcript

Summary

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? We dig into what the government is spending, what it’s taking in and the steep toll interest rates are taking. Also: a brief history on U.S. aid to Israel.

Transcript

Click on a timestamp to play from that location

0:00.0

Interest rates and the swelling gap between what the federal government brings in and what it spends.

0:08.0

I'm David Brancaccio. First, the House of Representatives has yet to consider President Biden's request for more than

0:13.8

105 billion dollars in foreign aid since there's no leader of the house, no speaker.

0:20.5

The funding request includes 14 billion dollars for Israel given the Israel-Hamass war.

0:26.0

Marketplace is Nancy Marshall-Genser has more now on the history of U.S. aid to Israel and stipulations the U.S.

0:32.2

attaches.

0:33.0

The Congressional Research Service says the U.S. has given Israel

0:36.7

158 billion dollars since Israel was founded, not adjusting for inflation.

0:41.5

That makes Israel one of the biggest

0:43.4

recipients of US foreign aid since World War II. Brian Katulis at the Middle East

0:48.2

Institute says the US and Israel have developed things like the Iron Dome

0:52.0

Air Defense System together.

0:54.0

So it's very much interlinked and their joint projects.

0:57.0

USAID to Israel generally comes with strings attached to prevent human rights abuses on a call with reporters previewing last week's

1:04.8

foreign aid request.

1:06.1

National Security Advisor Jake Sullivan said all US arms transfers to Israel are, in

1:11.0

his words, rooted in the basic proposition they'll be used

1:14.3

consistent with the law of armed conflict but Brian Katula says it's hard to

1:18.8

police this aid okay how are they going to then try to enforce that and use this as leverage in a way that doesn't undermine the mission?

1:26.0

Kautula says any U.S. ally receiving aid has its own agenda, and U.S. officials may not have as much leverage as they think.

1:33.6

I'm Nancy Marshall Genser for Marketplace.

1:36.4

We're also covering the latest on the limited shipments of humanitarian aid now going

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.