The Problem With a $2 Trillion Deficit

<p>Over a year, the federal deficit — the gap between what the U.S. government spends and what it earns — has doubled, to nearly $2 trillion.</p><p>That figure seems to validate the worries of congressional Republicans about government spending, which have been at the center of the messy fight over who should be House speaker.</p><p>Jim Tankersley, who covers economic policy at the White House for The Times, explains the Republicans’ concerns — and why their plans would not come close to solving the problem.</p><p>Guest: <a href="https://www.nytimes.com/by/jim-tankersley?smid=pc-thedaily">Jim Tankersley</a>, an economic policy correspondent for The New York Times.</p><p>Background reading: </p><ul><li>The U.S. deficit<a href="https://www.nytimes.com/2023/10/20/business/treasury-report-shows-1-7-trillion-deficit.html?smid=pc-thedaily"> effectively doubled in 2023</a>.</li><li><a href="https://www.nytimes.com/2023/10/20/business/federal-budget-deficit-trillion.html?smid=pc-thedaily">This is why</a> the federal deficit is growing.</li></ul><p>For more information on today’s episode, visit <a href="http://nytimes.com/thedaily?smid=pc-thedaily">nytimes.com/thedaily</a>. Transcripts of each episode will be made available by the next workday.</p>