US finances wars for 'world hegemony' as weary Americans suffer: Sachs

By Al Mayadeen English
Source: Agencies
18 Feb 2024 17:56
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US renowned economist Jeffrey Sachs says the American "public is sick of" their taxpayer money going to foreign wars so Washington can maintain "global hegemon" status.

A homeless american citizen sleeping on a public bench while covered in an American flag blanket during the winter season in 2017 (AFP)

The United States wants to be the "global hegemon" while the American people grow wearier of their tax money being spent on foreign wars as the government neglects growing domestic problems, American prominent economist and policy specialist Jeffrey Sachs said.

Washington has provided Ukraine with almost $113 billion and is currently in the process of approving an additional $60 billion. Similarly, President Joe Biden's administration, on top of the annual $3 billion aid to the Israeli occupation, is working on allocating a further $14.1 billion to assist the entity in its war on Gaza. Taiwan will also receive part of the total share of several billion dollars as part of the US' anti-China agendas in the South China Sea.

“The public is sick of this – the American people don’t want our government to spend money on these wars… they see that the budget deficit is huge, the debt keeps rising, they keep being told they can’t have healthcare… or child care for school because the budget is in a crisis,” Sachs said.

For approximately three decades, the US political system has focused on achieving "world hegemony" and has struggled to effectively tackle fundamental domestic issues, he warned.

“The US just wants to be the global hegemon, it wants to be the biggest power and wants to have its pieces on every place on the world chessboard... And if you’re another big country like China or Russia, the US does not want you there in the way," he said, adding that “no politician asked the American people ‘do you really want to pay for hegemony?’”

Sachs, who is a vocal supporter of a diplomatic end to the Russia-Ukraine war, described assistance to Kiev as “a lousy investment” and “a waste of money, waste of time and waste of lives.”

But expressing pessimism, the analyst acknowledged that the war is a trillion-dollar business industry with a "group that profits even if it is a disaster” – the military-industrial complex.

“The senators are by and large agents of the military-industrial complex and they do their bidding," despite large public opposition.

Bipartisan disputes have prevented the passing of a bill to provide Kiev with a new financial package. A Congress vote a few days ago failed to reach an agreement, with another vote expected on February 28 following the government's winter recess.