The United States is running out of money to help Ukraine, the White House says, calling on Congress to take action in this regard.
White House Budget Director Shalanda Young wrote in a letter to House Speaker Mike Johnson that the United States is running out of money to finance Ukraine’s defense fight against Russia. She emphasized that this is especially dangerous in the context of possible offensive actions by Russia, which may take place this winter.
President Joe Biden’s administration asked Congress in October to allocate $106 billion in aid to Ukraine and Israel and to boost security at the U.S. southern border, which is under pressure from African and Asian migrants. Most of the package would be spent on aid to Ukraine.
Since the beginning of Russia’s invasion of Ukraine in February 2022, Washington has allocated aid to that country $75 billionof which more than 43 billion dollars went to military aid.
The US is out of money
“I want to make it clear: without congressional action, we will run out of money before the end of the year to purchase more weapons and military equipment for Ukraine and to supply Ukraine with equipment from U.S. military warehouses,” Shalanda wrote Young. in a letter published by the White House.
“There is no magic pot of available funds right now. We are running out of money – and we are running out of time,” she warned.
There is an ongoing debate on the American political and punditry scene about Washington’s policies towards the Russian-Ukrainian war and the situation in Eastern Europe. Differences of opinion are also visible in the House of Representatives, where Republicans have a small majority. There are increasing calls for a partial or even complete halt to the financing of Ukraine’s military efforts and for an end to the fighting using diplomatic methods. Without assistance, including in terms of ammunition and weapons from the US, the Ukrainian side would not be able to wage war.
Aid to Ukraine is questionable
In mid-November, US Defense Department deputy spokeswoman Sabrina Singh said the US had already used more than 95%. money for Ukraine. This is about the budget created to help Ukraine at the beginning of the large-scale Russian invasion. At the same time, 90 percent The funds specifically intended for military support have already been used up.
Sabrina Singh also noted that President Joe Biden’s administration has already exhausted all Ukraine Security Assistance Initiative (USAI) funds. At the same time, there is still a reserve of about $1 billion for the packages managed by the US president.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
