Treasury Secretary Janet Yellen visited Ukraine on Monday to discuss an additional $10 billion in new budgetary aid for the country, assistance that goes directly to the government to pay for things like government services and pensions.
While in Kyiv, Yellen announced that Ukraine would be receiving $1.2 billion as the first tranche of the massive $10 billion aid package.
“The United States has provided $13 billion in economic assistance to Ukraine. Today, I am proud to announce the transfer of an additional amount of over $1.2 billion. That’s the first tranche of about $10 billion in direct budget support that the United States will provide in the coming months,” Yellen said.
Ukraine is expecting to have a budget deficit of about $38 billion this year and is looking for the US, the EU, and the IMF to foot the bill.
The $10 billion for the US budgetary aid is being pulled from the $45 billion Congress authorized to spend on Ukraine in December. If spent at the same rate as previous aid packages, the $45 billion will be exhausted by the summer.
The Biden administration has told Ukraine that similar aid packages might be harder to pass in the future, but Yellen’s message in Kyiv was that the US would support the country for “as long as it takes.”
“As you do, I want you to know this: you are not alone. We are with you. The United States has your back – and we will stand with you for as long as it takes,” Yellen said.
Is this Biden’s new inflation strategy, give away more “free” dollars???
Riiight. Support Ukraine pensions while keeping American workers insecure (Yellen 1997 memo to Greenspan), attacking Social Security here in the U.S.
Peace is cheaper (and safer) than actual war. I feel like I might be living my last days on earth, at this pace.
U.S/UK are certain Russia will not push the button.
is Russia certain that US won’t push the button
I’ve learned since WW2, U.S. is too chicken poop to take on countries their own size. Even in WW2, they needed allies to soak up most of the blood. If Japan had acquired nukes, US wouldn’t dare drop the big boy and the fat man.
But, without endless wars, the MIC profits go down. Can’t have that. Wall St. and investors need their dividends, even if it’s blood money.
“As you do, I want you to know this: you are not alone. We are with you. The United States has your back – and we will stand with you for as long as it takes,” Yellen said.
So, is that the Treasury Secretary or the Secretary of Defense? And how much did it cost to send her into a war zone? And I’m wondering if Zelensky thinks everyone in the US government is in their 70’s and 80’s. I know I do.
Jeez, that’s all she is? She looks older!
Yellen went to adopt Zelenskyy.
She sounds like Woody Allen in drag.
Totally nuts! Where’s all this money coming from? Our stolen wages! What do we get for all that? NOTHING! Psychopaths are running Wash. and the EU, it’s so obvious.
Hey, we could use some snowplows here in the northern Sierra.
Or at least some snowcats to get around.
I always wanted to do the winter survival course at the Marine Corps Mountain Warfare Training Center near Bridgeport, but I never did get to go there in winter. Latest I was there was October (and it was already dumping a dusting of snow every night by late August).
We’re crawling out of the worst blizzard I’ve witnessed here in our twelve years, and the locals tell me it’s been more like 18-20. Butte county only has pickups with plows for terrain that ranges from the Sac Valley floor to over 5000 feet (we’re at 3000), and this time what they sent out didn’t cut it. Added to that, PG&E lost major hardware and left a good chunk of the foothills without power for over four days.
I grew up in Connecticut where all the plows were dump trucks carrying sand and plenty of ’em. Would be nice to have a few up here.
Maybe Kiev could tell Biden they need snowplows and someone could slip us a few.
I find it sickening that no one wants to report that, despite having a considerably larger economy than the US, and paying far less than the US does for their militaries, the EU is also contributing far less to Ukraine than the US is. But “we are all united” in this.
The truth is we are “supporting” the Ukraine government, the most corrupt in Europe, with direct cash payments, which are ultimately untraceable and unauditable, and much of which is near certainly being siphoned off into private bank accounts, as “bribes” so that the same people enriching themselves will continue to sacrifice their countrymen’s lives in continuing a war that should have been ended through negotiation a year ago. Money for Blood. It disgusts me.
Well… kind of explains why Europe is not contributing much.
A second reason is that the Russian escalation path starts with US bases in Europe being bombed. WE may be willing to risk that. Europe not so much.
US GDP is about half again that of the EU.
That’s incorrect. The European Union’s GDP is at least 6% higher than that of the USA; US GDP per capita is higher than the EU’s, because the EU has more people,
The numbers I saw were EU GDP ~$16 trillion, US GDP ~$23 trillion. But I didn’t look that hard, so perhaps I accidentally grabbed different years.
If you google “EU GDP vs US GDP” the first return is from nationmaster, and quotes “EU GDP, $16.63 trillion. Ranked 1st. 6% more than United States, $15.68 trillion. Ranked 2nd.” But again, per capita GDP is in the US’ favor, because EU has more people and the French only work 3 (or is it 2?) days per week; and the Greeks and Italians work even less. (sarcasm alert)