Janet Yellen Affirms US Ability to Support Israel and Ukraine Amidst Conflicts
Janet Yellen has angered some US citizens by her recent remarks.
In an exclusive interview with Sky News, US Treasury Secretary Janet Yellen stated that the United States is well-equipped to handle conflicts on two fronts, referring to the ongoing tensions between Israel and Hamas in the Middle East and the US support for Ukraine against Russia. Yellen emphasized the stability of the US economy and public finances, reassuring that the nation can afford to back its interests abroad.
Speaking to Wilfred Frost ahead of a meeting of finance ministers in Luxembourg, Yellen acknowledged the uncertainties surrounding the economic consequences of the current conflicts. The volatile prices of oil and natural gas have contributed to the energy-driven cost of living crisis faced by Western economies in the past year. Yellen stressed the importance of Republicans appointing a new House of Representatives speaker to facilitate financial support for both Israel and Ukraine, describing it as a priority.
“We do need to come up with funds, both for Israel and for Ukraine. This is a priority,” Yellen stated. She reiterated America’s support for Israel’s right to defend itself while emphasizing the need to minimize civilian casualties. Yellen emphasized the US’s commitment to standing with Israel and supporting its military requirements. Additionally, she highlighted the necessity of supporting Ukraine in its struggle against Russia.
Yellen’s remarks followed her participation in the IMF/World Bank conference in Morocco, where the potential ramifications of the Israel-Hamas conflict were extensively discussed. Amidst concerns about a wider war in the Middle East, Iran warned Israel against a full-scale ground operation in Gaza. Yellen refrained from divulging specific details but confirmed ongoing diplomatic conversations to address the situation and prevent further escalation.
How Much Has US Spent On Wars
According to a report from the Costs of War project at Brown University, the US has spent about $8 trillion on its global war on terror since 2001, which includes the wars in Afghanistan, Iraq, Syria, and Pakistan. This is more than the total federal government spending in the fiscal year 2022. The report also estimates that the wars have caused more than 900,000 deaths.
Another source from CNBC states that the US has spent $6.4 trillion on wars in the Middle East and Asia since 2001. This is based on a study by the Watson Institute of International and Public Affairs at Brown University and the Frederick S. Pardee Center for the Study of the Longer-Range Future at Boston University.
In conclusion, Yellen’s statements underscore the US’s financial stability and its commitment to supporting its allies in times of conflict. As the situation continues to evolve, diplomatic efforts remain underway to address the complexities of the conflicts in warring regions.