The Biden administration provides billions to reduce Ukraine’s fiscal deficit. This sounds like a joke, but it really happened during President Biden’s time in office.
The United States Agency for International Development (USAID) announced on Monday that it would deliver an additional $4.5 billion in U.S. taxpayer funds to Ukraine.
It will be used to reduce the Ukrainian government’s budget deficit, which is a point of contention and makes no sense at all.
NEWS: The 🇺🇸, through USAID in coordination with the @USTreasury, is providing an additional $4.5 billion in direct budgetary support to the Government of Ukraine 🇺🇦 to help alleviate the acute budget deficit caused by Putin’s brutal war of aggression. https://t.co/dnWEAV9eK0
— USAID (@USAID) August 8, 2022
The United States is offering an extra $4.5 billion of direct funding allocations to the current administration of Ukraine to help ease the severe budget deficit caused by Putin’s vicious war of aggression.
The money will be sent to the Ukrainian government in parts. The first payment of $3 billion will be sent in August.
USAID acknowledges the outstanding bipartisan support of Congress made this gift possible.
A BASED Politics fellow, Jack Hunter, reminded us, however, that Congress is just being charitable with American taxpayer monies and/or money borrowed in their name.
Senator Rand Paul ridiculed USAID’s announcement appropriately.
WOW! The US government is actually trying to reduce the deficit!!?? Oh, wait, it’s for Ukraine, never mind. Business as usual with your 💰💰 💰 https://t.co/5Jhh2j1OXN
— Rand Paul (@RandPaul) August 8, 2022
Keep in mind that the United States owes $30.6 trillion. That’s a staggering $243,797 for each federal taxpayer. The national debt is now bigger than the whole economy’s annual output. This is a level that economists have long seen as a red flag.
The situation is worsening. We ran a staggering $2.77 trillion budget deficit in 2021, which means much was added to the national debt, the second-highest amount ever.
Our alarmingly high level of debt has severe repercussions for average citizens.
Soon, we will have to pay trillions more in annual taxes to cover the interest. Moreover, the debt discourages private sector investment, shrinks the economy, and reduces revenues.
The huge deficit spending of the last two years has made a big difference in the inflation that is making people go bankrupt. All of this indicates we have our fiscal issues to confront.
It is absurd to believe ] we would send billions of our tax money halfway across the globe to pay off another country’s liabilities while we are drowning in our own. The U.S. government is expected to serve the public interest first and foremost.
We may and should feel a great deal of compassion for the Ukrainian people. The war waged by Russian President Vladimir Putin on Ukraine is horrible and abhorrent, resulting in enormous carnage.
One might even argue that we should financially help the Ukrainian citizens with humanitarian aid. However, whether this should be accomplished through individual philanthropic efforts or taxation is still controversial.
Though there is no justification for robbing the people of billions during a downturn and soaring inflation in order to pay a foreign government’s debts. This is an additional example of the government of President Biden putting America last.
This article appeared in The Political Globe and has been published here with permission.