by Patrick Appel
If America and Europe have failed to adequately defend Ukraine, it’s not for lack of guns. It’s for lack of money. Over the last year, the real contest between Russia and the West hasn’t been a military one (after all, even McCain knows that risking war over Ukraine is insane). It’s been economic. In part because of two wars that have drained America’s coffers, and in part because of a financial crisis that has weakened the West economically, the United States and Europe have been dramatically outbid. …
Whenever the United States debates using its money to buttress democracy and Western influence in a strategically important part of the world, commentators offer comparisons with the Marshall Plan that America offered Europe after World War II. But in today’s dollars, according to one estimate, the Marshall Plan would total roughly $740 billion. That kind of money would certainly enable far-reaching economic reforms in Ukraine, and likely anchor the country in the West for years to come. But, of course, the suggestion is absurd. Today’s Senate can barely pass an aid package 740 times as small.
The Dish 