How Much Has the U.S. Spent on the War in Ukraine?
Chart of the Week #9
With just hours to go before President Joe Biden and Donald Trump take the stage for the first presidential debate, I thought it would be the perfect time to share this week’s "Chart of the Week" with you. It’s about Ukraine, which I’m sure you’ll agree will probably be a hot-button issue tonight.
So let's get right into it...
The next chart shows the U.S. government's spending on Ukraine in response to Russia's February 2022 invasion. Take a look.
Since the war started, the U.S. Congress has passed five bills to provide ongoing aid to Ukraine, with the latest one in April 2024. The total budget for these bills is $175 billion, and most of it is for military support.
Looking more closely...
Out of the $175 billion total, around $70 billion is earmarked for weapons, equipment, and other military uses. Then, you have $34.2 billion to support Ukraine’s budget and $2.9 billion for humanitarian aid. Altogether, that’s about $107 billion going directly to the Ukrainian government.
The remaining $68 billion is pretty much staying at home, funding various U.S. activities associated with the war in Ukraine.
No matter how you feel about what’s happening across the pond in Eastern Europe, these numbers are huge and should probably give you a pause.
For perspective, consider that Israel has received about $300 billion in U.S. foreign aid, covering both economic and military assistance, since its founding in 1948. And that's over a span of 76 years.
Regards,
Lau Vegys
Fortunately, many of us concerned citizens have been contacting our representatives and they have changed from voting FOR the first Ukraine funding bills, to now voting AGAINST the latest bills. Sometimes progress seems glacial in its speed, but like a glacier, it grinds on.
Doug the USA is not a responsive body of government that I have any ability to influence. I do understand what the news reports say however my interests are in Argentina. Last month I established a SRL agricultural technology company.
The northern hemisphere is playing with the life blood of the world. I think to move my energy into building my robotics company would be a better use of my time.
This company has already been a great adventure. To go through the process was very different than my experience in Florida years ago. I have my CDI from AFIP allowing me to establish a business and buy property.
I will be visiting Recoleta in late August with family. In September it will be back to business. Cheers!