The United States can’t afford to send money to Ukraine without borrowing from China and taking on more debt to finance its obligations, said Sen. Rand Paul (R-Ky.) in a May 18 interview on the Breitbart News Daily Podcast.
On May 16, a bipartisan majority of U.S. senators voted to advance a $40 billion Ukraine aid package over an earlier objection from Paul. The Senate is on track for final consideration of the bill sometime later this week and is expected to pass the legislation.
“I think it’s important to know that we don’t have any money to send. I mean, we have to borrow the money from China to send it to Ukraine,” Paul explained. “And I think most people kind of get that, and many Republicans will say that and understand it when it’s a new social program, but if it’s military aid to a country, they’re like, ‘Well, we can borrow that. That’s a justified borrowing.’”
Currently, the U.S. national debt is inching toward $30.5 trillion, with annual federal spending outpacing annual federal revenue by over $2 trillion. To continue to fund obligations appropriated by Congress, the United States has to take on debt, much of which is purchased by Chinese buyers.