No, the US should not forgive Ukraine’s debts

Published November 21, 2024 3:03pm ET



President Joe Biden began his presidential campaign by promising to eliminate $20,000 in student loans for borrowers in the country. He’s ending his term by seeking to cancel billions of dollars in Ukraine’s debt from its war with Russia. After years of record-breaking inflation, caused partly by reckless government spending and implementing policies that 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 fiscal decision by the president.

Something is afoot in the Biden administration regarding Ukraine. This goes beyond trying to help a country fend off a ruthless aggressor. We’ve now progressed to jeopardizing the nation’s economic sustainability. With trillions of dollars in debt, we cannot afford to forgive Ukraine’s billions of dollars in debt. Sen. Rand Paul (R-KY) emphasized this 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.” 

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