Richard Stern, the director of the Heritage Foundation’s budget center, told Breitbart News that the total proposed aid to Ukraine would cost $1,100 per household.
President Joe Biden’s latest request for $24 billion in additional aid to Ukraine has led many Americans to wonder how this large figure may impact them.
Stern explained to Breitbart News that the latest request would cost the average American household $200, or when combined with America’s current $113 billion in aid, would cost $1,070, or roughly $1,110 per household.
The Heritage budget expert explained that the long-term costs of the Ukraine aid will be much higher considering that America will have to borrow to pay for the aid.
Stern wrote, “All this aid is just piled onto the national credit card. Over the next 10 years, interest costs alone on this new debt will run at least $47 billion – more than $360 per household. For a total of $184 billion ($1,430+ per household)..but, the meter is still running.”
Biden hopes to send more aid to Ukraine while Americans have experienced the brunt of high inflation and economic uncertainty.
According to the Federal Reserve’s 2022 Economic Well-Being of U.S. Households, 37 percent of Americans lack enough money to cover a $400 emergency expense, which is up from 32 percent in 2021.
House conservatives, led by Rep. Warren Davidson (R-OH), objected to Biden’s $24 billion aid package.
“This request exacerbates your administration’s out-of-control deficit spending and circumvents the bipartisan debt ceiling agreement,” the House conservatives wrote in a letter to Biden. “Americans are tired of funding endless wars and want policies that not only help restore fiscal sanity in Washington, but also put America and American citizens first.”
The Republicans asked that the Biden administration provide Congress with its “comprehensive strategy and mission for U.S. involvement in Ukraine.” They said without a formal strategy, “There is no way to develop clear objectives, allocate the proper resources, conduct rigorous oversight, or hold officials accountable for success or failure.”