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

<p>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&#8217;s taking in and the steep toll interest rates are taking. Also: a brief history on U.S. aid to Israel.</p>