Tuesday, September 13, 2016

Here's one reason why U.S. can't budget enough for its own infrastructure

Israel to get $38 billion in U.S. military aid over 10 years

By Associated Press
09/13/16 03:16 PM EDT

WASHINGTON — The United States will provide Israel's military with $38 billion during the next 10 years, officials said Tuesday, the largest batch of military assistance the U.S. has ever pledged to another country.

Following months of behind-the-scenes negotiations, the State Department said the two countries had reached a 10-year agreement, with a signing ceremony planned for Wednesday. The U.S. and Israel haven't disclosed the exact sum, but officials familiar with the deal said it totals $3.8 billion a year — up from the $3.1 billion the U.S. gave Israel annually under the previous 10-year deal.

Obama's national security adviser, Susan Rice, planned to attend the ceremony at the State Department, a senior Obama administration official said. Israel's acting national security adviser, Jacob Nagel, arrived in Washington ahead of the announcement and was also expected to attend.

Israel's government had no immediate comment on the deal.

Under the agreement, Israel's ability to spend part of the funds on Israeli military products will be gradually phased out, eventually requiring all of the funds to be spend on American military industries. Israel's preference for spending some of the funds internally had been a major sticking point in the deal.

(More here.)

1 Comments:

Blogger Tom Koch said...

Just wait until our artificially low interest rates come to a screeching halt.

6:29 PM  

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