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Rand Paul: Israeli Foreign Aid is 'Welfare'

134
What, me worry?2/04/2011 7:27:46 pm PST

re: #79 recusancy

President Obama’s Fiscal Year 2010 budget proposes $53.8 billion for appropriated international affairs’ programs. From that budget, $5.7 billion is appopriated for foreign military financing, military education, and peacekeeping operations. From that $5.7 billion, $2.8 billion, almost 50% is appropriated for Israel.[40] Israel also has available roughly $3 billion of conditional loan guarantees, with additional funds coming available if Israel meets conditions negotiated at the U.S.-Israel Joint Economic Development Group (JEDG).
[Link: en.wikipedia.org…]

Here’s a better explanation of it which also gives the history of the funding.

hcs.harvard.edu

Unlike these special packages, Israel’s annual assistance goes towards specific expenses year after year. After Israel receives them, American ESF [Economic Support Funds] essentially return to the U.S. to repay large debts Israel incurred borrowing money from the U.S. to finance its military.15 Today, even after years of repayment, Israel’s debt is still around $3 billion.16 Military aid, on the other hand, is exchanged for goods, specifically weapons. Israel’s annual defense spending amounts to a little over 10 percent of the country’s GDP, or around $10 billion. Of that, American FMF [Foreign Military Financing] accounts for about $2 billion and is the portion of the defense budget used mainly for weapons procurement from both Israeli and American contractors.17

Note that this is an unbiased article which addresses pros and cons regarding aid to Israel. Not that I agree with the criticisms.