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No, the US should not forgive Ukraine’s debts

Posted on by L. Dreeye
No, the US should not forgive Ukraine’s debts

President Joe Biden launched his presidential campaign with a promise to cancel $20,000 in student loans for the nation’s borrowers. He ends his term trying to write off billions of dollars of Ukraine’s debt resulting from the war with Russia. After years of record inflation fueled in part by irresponsible government spending and policies that have added trillions of dollars to the national debt, Biden’s attempt to forgive billions of dollars in loans to Ukraine is just the latest disastrous financial decision by the president.

Something is happening in the Biden administration regarding Ukraine. This goes beyond trying to help the country repel a ruthless aggressor. Now we have come to the point where we have jeopardized the economic stability of the country. With trillions of dollars of debt, we cannot afford to forgive Ukraine billions of dollars of debt. Sen. Rand Paul (R-Ky.) emphasized that point Wednesday by forcing the Senate to vote on his joint resolution “to stop the Biden administration from making Ukraine’s debt the responsibility of the American people.”

“Americans across the United States are struggling with high prices and their own debt thanks to four years of the Biden-Harris administration, while the US national debt has reached a record $36 trillion and we cannot afford a $4.65 billion gift Ukraine,” Paul said in a press release.

When Russia invaded Ukraine in February 2022, most sane people knew it was wrong. Perhaps reluctantly at first, people understood why the US had offered to provide aid in the form of loans and weapons to defend Ukraine. After all, Russia was the aggressor, and invading a sovereign state was morally, ethically, and geopolitically wrong. However, at some point during the Russian-Ukrainian war (two countries with centuries of history of conflict and war), Democrats made the defense of Ukraine the financial responsibility of American taxpayers.

No matter how tragic the situation in Ukraine is, it is not the responsibility of US taxpayers to finance its sovereignty. This is especially true given the national debt. Paul knows this, which is why he called for a vote on his resolution. He also knows that any senator who does not support this resolution is essentially allowing Ukraine to receive billions of dollars in U.S. taxpayer grant money that could be used to help people in that country.

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“Senators who vote against my resolution today will send a message to all Americans that they clearly prioritize Ukraine over the people they represent and advocate for putting America last,” Paul said.

Paul is right about this and should be commended for this initiative. As mentioned above, no sane person wants to see Ukraine taken over by Russia or millions of innocent Ukrainians to suffer from war. Undoubtedly, this is immoral Russian aggression. However, it is also wrong to continue asking US taxpayers to fund Ukraine’s defense. As Paul noted, with our country running trillions of dollars in debt, we can’t afford it anymore.