Do You Support $5B Ukraine Loan Forgiveness by Biden?

Do You Support $5B Ukraine Loan Forgiveness by Biden?

Here’s The Scoop

In a move that has sparked outrage among fiscal conservatives, the Biden administration has informed Congress of its intention to cancel a staggering $4.65 billion in debt owed by Ukraine. This decision comes as part of a broader economic loan package offered earlier this year, raising eyebrows and concerns among those who prioritize American taxpayer interests.

State Department spokesperson Matthew Miller confirmed the administration’s plans, stating, “We have taken the step that was outlined in the law to cancel those loans, provide that economic assistance to Ukraine.” This announcement follows an April decision by Congress to pass a supplemental funding package, which included a hefty $60 billion in aid for Ukraine. Notably, $9 billion of this was structured as a loan with a provision for potential forgiveness—a provision the Biden administration is now exercising.

In response, Representative Thomas Massie, R-Ky., has introduced a resolution to block this controversial debt cancellation. Senator Rand Paul, R-Ky., has also vowed to introduce a similar resolution in the Senate. However, with a Democrat-controlled Senate and President Biden’s veto power, the chances of overturning this decision appear slim.

Massie took to social media to express his disapproval, stating, “On his way out, Joe Biden is trying to forgive $4.65 billion of debt Ukraine owes America’s taxpayers. I just introduced H. J. Res 224 to stop this ‘America Last’ policy from taking effect.” His sentiments echo the frustrations of many who believe American resources should be prioritized for domestic issues.

Since Russia’s invasion of Ukraine in February 2022, Congress has allocated over $175 billion for Ukraine, a figure that continues to grow as Biden ramps up support in the final weeks of his presidency. This includes a recent authorization for Ukraine to use U.S.-provided long-range missiles and anti-personnel land mines, decisions that have drawn criticism from human rights groups and accusations of escalating the conflict for political gain.

The Biden administration justifies these actions by pointing to Russia’s recent military reinforcements from North Korea. However, critics argue that such moves risk further entangling the U.S. in a foreign conflict at the expense of American interests.

With President-elect Trump poised to take office, questions loom about whether these policies will remain in place. Trump has hinted at a potential shift, suggesting he could resolve the conflict swiftly through negotiations with Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin.

As Biden continues to push forward with his Ukraine agenda, including a pledge to commit the remaining $7 billion from the supplemental package, the debate over America’s role in the conflict intensifies. For many, this latest debt cancellation is yet another example of an “America Last” policy that prioritizes foreign interests over the needs of U.S. citizens.

What do you think? Let us know by participating in our poll, or join the discussion in the comment section below!

Source