Rampant inflation is a major concern Paul said he has with the bill
Congress needs to borrow money from China to send aid to Ukraine, Sen. Rand Paul (R-Ky.) told “Breitbart News Daily” on Wednesday, one day before the Senate overwhelmingly voted to send $40 billion in military and economic aid to Ukraine and its allies.
“I think it’s important to know that we don’t have any money to send,” Paul, a fiscal conservative, explained. “We have to borrow money from China to send it to Ukraine. And I think most people kind of get that, and many Republicans will say that 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.'”
Paul voted against advancing the bill along with ten other senate Republicans: Marsha Blackburn of Tennessee, John Boozman of Arkansas, Mike Braun of Indiana, Mike Crapo of Indiana, Bill Hagerty of Tennessee, Josh Hawley of Missouri, Mike Lee of Utah, Cynthia Lummis of West Virginia, Roger Marshall of Kansas, and Tommy Tuberville of Alabama.
Rampant inflation is a major concern Paul said he has with the bill.
“The problem is that it all leads to inflation, so it kind of hurts the Republican argument that Biden’s spending and Biden’s debt leads to inflation, except for when it’s bipartisan spending and that doesn’t really count,” he noted.
The United States is currently more than $30 trillion in debt. The U.S. owes China more than $1 trillion, Investopedia states.
Paul temporarily blocked the Ukraine aid legislation from moving forward in the Senate, but he was overruled earlier this week.
“To borrow the money from China simply to send it to Ukraine makes no sense and makes us weaker not stronger,” Paul said on the Senate floor about the aid package.
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I’m sure owing China sounds worse than owing Japan, but Japan owns more US federal debt: $1.3 T versus $1.06 T. And of course by far the biggest US debt holder (not counting the farce that is intragovernmental debt “owed” to Social Security) is the Fed with upwards of $4 T created out of thin air. So, we’re basically monetizing the debt – and it’s snowballing as interest costs rise.
There’s no need to fear, Trump is here. We gonna repay that debt for 50 cents on the dollar just like we do our bad business deal.
I sleep better at night knowing Rand Paul is on the case.
Just print more, why borrow? Dummies. Haven’t they been paying ANY attention?
No doubt.
At least Mike Crapo knows crap when he smells it.
just another brick in the wall of the controlled demolition of the US