Biden Bankrolling Ukraine Fuels Bloodshed, Blunts US Economy - Expert
© AFP 2023 / ANATOLII STEPANOV
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During Volodymyr Zelensky's Washington DC tour, US President Joe Biden said he had signed another $200 million drawdown from the Pentagon for Kiev bypassing Congress.
The latest drawdown package is the 53rd of its kind provided by the US president to Ukraine since the beginning of the Russian special military operation, in addition to over $111 billion in aid allocated by Congress for the Eastern European state.
"I oppose and have voted against every dime spent fighting a proxy war in Ukraine and Congress should not waste any more taxpayer money contributing to the death of Ukrainians or Russians," Republican Congressman Paul A. Gosar of Arizona told Sputnik.
Biden's decision to provide Ukraine with $200 in weapons and equipment came as the US Congress remains in deadlock over the US president's request to allocate more than $110 billion in aid for Ukraine, Israel, Taiwan and other security matters. Congressional Republicans have refused to give a green light for the bill unless Democrats include sweeping border reforms in the measure.
As US lawmakers are fixing to leave Capitol Hill for winter break, Senate Majority Leader Chuck Schumer (D-NY) asked House Speaker Mike Johnson to keep the lower chamber open after this week so that the hefty package could be approved. Zelensky's visit to Washington is seen by many as an attempt to tip the balance in Ukraine's favor.
"From the outside, Ukraine’s problems look quite acute, but how much of that is narrative in order to pressure US legislators into giving in to Zelensky’s demands and how much is reality is anyone’s guess at this point," Tom Luongo, financial and geopolitical analyst, told Sputnik. "That said, Zelensky’s position is extremely tenuous. This looks like his last chance to scare up funds from the old guard in the Senate – McConnell, Schumer, etc," he said.
"Zelensky is hanging on by a very thin rope, one which he put around his own neck. That said, I don’t believe for a second that he wasn’t being ordered to run things the way they have been run. He’s a puppet, an order-taker. And, as long as he stays on script, he will be rewarded with a fat ‘gold watch’ for a job well done," the analyst continued.
Zelensky can't come home empty-handed as trouble is brewing for his regime after Ukraine's failure to reach any of its objectives during the ill-fated counteroffensive, according to Luongo.
Meanwhile, the US has its own domestic problems which have to be ironed out, the economist insisted.
"The US needs to cut spending regardless of Ukraine. Period," Luongo stressed. "The path we’re on is unsustainable. Even the FOMC Chairman, Jerome Powell, says this, breaking serious protocols in doing so. The US cannot really raise taxes either, nor should it. We are already overtaxed and over-regulated to the point of self-extinction. Cutting spending in DC is the path forward for the US, making our bond issuance more sustainable. At this point, the political winds have shifted away from Ukraine," Luongo explained.
12 December 2023, 19:01 GMT
The analyst clarified that unless the US takes steps to reduce spending and lower the government's burden on the middle class, the US Federal Reserve will have limited options to control inflation or prevent a crisis in the long run.
"Funding for Ukraine is emblematic of the political rot in DC as the leadership wants nothing but to keep prioritizing everything, everywhere, all at once, because their grand dreams of social engineering trump all other concerns," the expert pointed out.
Ukraine currently faces the issue of being overly reliant on Western aid. This predicament can be traced back to the failure of the West's initial strategy, aimed at provoking a conflict with Russia. In March 2022, Ukraine had the opportunity to reach a peace agreement with Moscow and avoid a catastrophe. However, Western politicians jumped in and intervened, driving President Zelensky to abandon any preliminary agreement and step up the fighting, in the pursuit of weakening Russia. As a result, Ukraine is now facing the consequences of its actions.
"So, without the US and/or the EU’s monetary support, Ukraine becomes a failed state of epic proportions," the expert stressed. "Europe can no more afford to support Ukraine financially than the US can. No real change can occur until the checks stop showing up. The fortitude and bravery of those fighting for Ukraine will wither even faster if their efforts are not feeding their families back home. This is the only way, however, out of this tragedy. Stop the money, you stop the violence and abuse," Luongo concluded.
12 December 2023, 20:17 GMT
