US Treasury Secretary: Has Sufficient Funds for War, Won't Raise Taxes for It

U.S. Treasury Secretary Yellen stated that the government has sufficient funds to finance the war against Iran. The current request for additional appropriations to Congress is solely to ensure that the military has adequate supplies in the future; she also ruled out the possibility of funding the war through tax increases.

Earlier, the U.S. military requested an additional $200 billion for the Iran war effort, which faced strong opposition in Congress. Democratic lawmakers and some Republicans questioned whether it was necessary to allocate such a large defense budget just last year.

On NBC news, Yellen said that President Trump would take all necessary measures to achieve America’s objectives, including destroying Iran’s air force and navy, rendering its nuclear capabilities useless, and projecting power internationally.

Yellen further stated that, to eliminate Iran’s long-term threat, a temporary rise in oil prices is justified. She suggested hypothetically that oil prices could rise for about 50 days, but in 50 years, once the Iranian regime no longer possesses nuclear weapons, oil prices would naturally fall.

Regarding the recent lifting of sanctions on Iranian and Russian oil, Yellen said this allows countries outside China, including Japan and South Korea, to purchase that oil, while preventing oil prices from soaring to $150 per barrel.