Sunday, September 24, 2023
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Email Whitelisting
Best Retirement Wishes
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
  • Top News
No Result
View All Result
Best Retirement Wishes
Home Stock

No Straight Comparison But a Promising Direction for Ukraine Assistance

by
September 8, 2023
in Stock
0
No Straight Comparison But a Promising Direction for Ukraine Assistance
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Jordan Cohen and Jonathan Ellis Allen

The Kiel Institute for the World Economy, a German think tank, has released its newest update to the Ukraine Support Tracker. This is a valuable resource that visualizes support to Ukraine from across the globe. In the latest report, Kiel claims that, based on the latest announcements, the European Union and individual European countries have committed to send double the assistance to Ukraine that the United States has.

Related posts

India Poised to Scrap its Jones Act

India Poised to Scrap its Jones Act

September 22, 2023
Campus ‘Bias Response Teams’ Stifle Free Expression

Campus ‘Bias Response Teams’ Stifle Free Expression

September 22, 2023

This commitment by the Europeans is good for their security and it is also good for U.S. taxpayers who, since 2022, have shouldered the largest percentage of aid to Ukraine.

However, the main issue with this finding is that Kiel compares European multiyear commitments to single‐​year U.S. commitments. In fact, the United States does not conduct multiyear arms transfers, especially when it comes to security assistance, like Europe. This is for a few reasons.

First, U.S. procurement of multiyear weapons contracts is rare and bureaucratic. According to 10 U.S.C. 3501, the United States can only legally conduct multiyear procurement of weapons under seven conditions, most of which relate to when having a multiyear contract will result in significant savings, that the cost and need for the weapon will remain the same, and that doing so will promote U.S. national security.

(Getty Images)

Finally, this can only occur when the Department of Defense receives congressional approval. Even though the 2023 and 2024 National Defense Authorization Acts allow for multiyear procurement for certain munitions to help restock U.S. munitions depots depleted since the start of the Ukraine war, the recency and limited dollar amounts authorized mean any multiyear commitments to Ukraine likely will not come for a number of years.

Second, the United States has delivered much of this aid through a mechanism known as the Presidential Drawdown Authority. This allows the United States to take up to $11 billion of existing weapons from U.S. stockpiles in any fiscal year and transfer them to a crisis situation. These weapons, therefore, can only be sent on a yearly basis.

There is no legal mechanism that Congress or the executive branch can enact that allows for multiyear drawdowns. This lack of a legal mechanism for drawdowns also holds for many other U.S. security assistance programs.

The Kiel report also misses distinction on certain other differences. For example, the report shows the differences between assistance delivered and assistance committed, but not always clearly.

Moreover, the report claims that, in terms of percent GDP, Norway is the top contributor. However, that includes all multiyear deals, compared to just one year of GDP. Doing so once again draws a miscomparison and fails to account for the still unknown future U.S. commitments.

In actual aid delivered, the United States still edges out the EU and its member states, but Europe is finally catching up. So far, the United States has delivered 69.48 billion euros. The EU and its members have delivered 69.08 billion euros, but the Kiel report includes the additional 62.66 billion euros committed over the next four to five years as well.

Given the consistency of U.S. commitments since the war began, it is more than likely that there will continue to be more commitments every year.

Fortunately, what the report does show is that Europe is stepping up its commitments to Ukraine. In fact, the EU and all European countries (not just EU members) have delivered 83.62 billion euros, some of which are part of a 156 billion euros multiyear commitment. This is a promising sign that Europe is paying more to defend itself. But it is not time to compare the apples of Washington’s single‐​year commitments and the oranges of Europe’s multiyear commitments.

Previous Post

Let Staten Island Secede!

Next Post

A Procapitalist Philosopher

Next Post
A Procapitalist Philosopher

A Procapitalist Philosopher

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

RECOMMENDED NEWS

Continue Work on Stablecoin Legislation or Risk Forfeiting the Financial Future

5 months ago

Liberalism and Peace

2 months ago

My Thoughts on Letters in Black and White

4 months ago
Mill at a Loss

Mill at a Loss

7 months ago

BROWSE BY CATEGORIES

  • Economy
  • Editor's Pick
  • Stock
  • Top News
Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

POPULAR NEWS

  • How Can We Restore Freedom and Sound Money in the US and the UK? Some Ideas

    How Can We Restore Freedom and Sound Money in the US and the UK? Some Ideas

    0 shares
    Share 0 Tweet 0
  • How not to answer the question “Why are carbon taxes unpopular with policymakers and politicians?”

    0 shares
    Share 0 Tweet 0
  • The New Deal and Recovery, Part 28: A New Deal for Housing

    0 shares
    Share 0 Tweet 0
  • You Can’t Depend on the State to Maintain Public Order

    0 shares
    Share 0 Tweet 0
  • I went to 2+ climate change sessions at the ASSA meetings

    0 shares
    Share 0 Tweet 0

Disclaimer

BestRetirementWishes.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Recent News

  • The Chinese Economy: Market Socialism with Chinese Characteristics
  • The State as Modern-Day Superstition: Unraveling the Illusions of Authority
  • Touch-and-Go

Category

  • Economy
  • Editor's Pick
  • Stock
  • Top News

Recent News

The Chinese Economy: Market Socialism with Chinese Characteristics

September 23, 2023

The State as Modern-Day Superstition: Unraveling the Illusions of Authority

September 23, 2023
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Email Whitelisting

© 2021 BestRetirementWishes. All Rights Reserved.

No Result
View All Result
  • About Us
  • Contact Us
  • Email Whitelisting
  • Home 1
  • Privacy Policy
  • suspicious-engagement
  • Terms & Conditions
  • Thank You

© 2021 BestRetirementWishes. All Rights Reserved.