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Title: The US can afford to give money to both Israel and Ukraine since its economy is doing 'extremely well,' Janet Yellen says
Source:
INSIDER via Yahoo
URL Source: https://news.yahoo.com/us-afford-money-both-israel-153521462.html
Published: Oct 16, 2023
Author: Ayelet Sheffey
Post Date: 2023-10-16 12:42:56 by Dakmar
Keywords: None
Views: 51
Treasury Secretary said the US can afford to support both Israel and Ukraine. Last month, Congress let aid to Ukraine lapse over opposition from some GOP representatives. Biden is pushing for Congress to pass legislation getting aid to both countries in an emergency package. The nation's top treasury official said the US does not have to pick and choose between aiding Israel and Ukraine in their ongoing military conflicts. It's been just over a week since Israel officially declared war on the Palestinian militant group Hamas after the group attacked several towns in southern Israel. Since the war began, President Joe Biden and US lawmakers on both sides of the aisle offered support for Israel, while at the same time pushing for the country to preserve innocent Palestinian lives in Gaza. The war between Israel and Hamas started at the same time as the Russian invasion of Ukraine has been ongoing for over a year now, and Treasury Sec. Janet Yellen has no doubts the US can afford to aid both Israel and Ukraine. "America can certainly afford to stand with Israel and to support Israel's military needs, and we also can and must support Ukraine in its struggle against Russia," Yellen told Sky News in a Monday interview. "And look, the American economy is doing extremely well," she continued. "Inflation has been high and it's been a concern to households. It's come down considerably. At the same time, we have about the strongest labor market we have seen in 50 years with 3.8% unemployment." Importantly, though, getting money to Israel and Ukraine requires congressional legislation. The House continues to be paralyzed as Republican lawmakers struggle to elect a new speaker after Rep. Kevin McCarthy was ousted in the wake of the most recent budget fight. Yellen acknowledged that "it's really up to the House to seat a speaker and to put us in a position where legislation can be passed," adding that "it shows that there's a problem in the Republican party in terms of being able to effectively govern the country. And it is important that we be able to pass legislation." Biden also expressed his commitment to support both Israel and Ukraine during a CBS interview 60 Minutes interview on Sunday. "We're the United States of America for God's sake, the most powerful nation in the history — not in the world, in the history of the world," he said. "We can take care of both of these and still maintain our overall international defense." Last month, Congress let emergency funds to Ukraine lapse due to GOP opposition to that aid. The New York Times reported on Sunday that Biden is planning to push Congress to pass an emergency package that would pair aid for both Israel and Ukraine, and Senate Majority Leader Chuck Schumer told reporters in Israel that he would not wait for the House to select a speaker as the conflicts in Israel and Ukraine continue. "We believe if we put together a strong package and pass it with an overwhelming, strong bipartisan majority, it will put pressure on the House, one way or another, to act," Schumer said. Poster Comment: 
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