Treasury Sec. Janet Yellen told Sky News in an exclusive interview Monday that the United States can “certainly afford two wars” at once.
Host Wilfred Frost asked whether the U.S. can afford to finance a second war with the U.S. being in a weak fiscal position.
“In terms of what this all means, Paul Tudor Jones, the famed investor, was on CNBC this week, and he said, ‘This is the most threatening and challenging geopolitical environment that I’ve ever seen. At the same time, the U.S. is in its weakest fiscal position since World War II, with debt-to-GDP at 122 percent.’ Can — can America, can the West afford another war at this time?”
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“I think the answer is absolutely. 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. And look, the American economy is doing extremely well.”
Yellen implored Republicans to elect a Speaker so that Congress can approve financial aid to Israel and Ukraine.
“We do need to come up with funds, both for Israel and for Ukraine. This is a priority,” Yellen said to Sky News. “It’s really up to the House to find, seat a speaker and to put us in a position where legislation can be passed.” (RELATED: Will The War In Israel Put Further Strain On US Weapons Stocks?)
“We stand with Israel. America has also made clear to Israel, we’re working very closely with the Israelis, that they have a right to defend themselves,” Yellen said. “But it’s important to try to spare innocent civilian lives to the maximum extent possible.”
The White House was reportedly considering tying more funding to Ukraine to a request for aid to Israel, The Washington Post reported. The Biden administration has given Kyiv more than $75 billion since the war in Ukraine began in 2022 and has requested additional aid for the nation.