U.S. re-approves Israel loan guarantees program

Tuesday, June 30, 2009 6:23 AM
From: General (Ret) James David (General David is mentioned on the cover of the third edition of former Republican Paul Findley’s ‘They Dare to Speak Out’ book about the power/influence of the pro-Israel lobby on the US political system and media):
 
While Israel thumbs its nose at the United States and continues building illegal settlements on stolen Palestinian land, one thing will never change.  Our corrupt politicians who keep approving aid to Israel knows that their re-election depends on total support for the Jewish state.  I wish you would send this to your congressman because I think everyone of them has their hands in the pockets of the Israeli lobby.  And the Israeli lobby has our politicians under their wings at the detrement of the American people.
Brigadier General, retired, James J. David
 
 
Last update - 15:28 30/06/2009
U.S. re-approves Israel loan guarantees program
By Reuters
 
The United States has re-approved its Israel loan guarantees program, subject to meeting fiscal targets, Israel’s Finance Ministry said on Tuesday.The move comes amid the most serious rift between Israel and its main ally in more than a decade due to disagreements over settlement building in the West Bank, land Palestinians seek for a future state.”Re-approval of the loan guarantees shows significant faith in Israel’s economy by the U.S. government,” Yarom Ariav, the Finance Ministry’s director-general, said in a statement after signing the agreement.    

 

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Earlier in the decade, to help Israel deal with a recession caused by a global downturn and a wave of Palestinian suicide bombings, the U.S. in 2002 provided a package of $billion in loan guarantees, where Israel could sell bonds internationally with the backing of the United States.
The guarantees have been instrumental in sovereign ratings upgrades by credit ratings agencies.
Israel still has $3.8 billion left to use by 2011 after already issuing $4.1 billion in bonds backed by the U.S. and a e1.1 billion deduction for Israeli settlement building and concerns over a security fence in the West Bank.
Israel would only be able to use up to e3.2 billion in 2009 but another $333.3 million will be released in 2010 and another $333.3 million in 2011if Israel sticks to its fiscal targets.
Under the deal with the United States, Israel must meet a 2009 budget deficit target of 6 percent of gross domestic product and keep fiscal spending to 3.05 percent above 2008 spending, and, in 2010, Israel’s budget deficit cannot exceed 5.5 percent of GDP while state spending cannot be 1.7 percent above 2009 levels.
Those targets are the basis of Israel’s 2009 and 2010 budgets, which lawmakers are expected to approve in the next few weeks.

Israel also has to present a roadmap for a new medium-term fiscal rule that would guide spending growth and deficits through 2015 while progress on privatization of state-owned seaports and the electricity sector must continue.

The U.S. and Israel agreed to expand a partnership in energy and technology research and development activities and in 2010, Israel will be required to improve intellectual property rights protection.

According to the deal, the guarantees amount may be reduced for activities “the president of the United States determines are inconsistent with the objectives and understandings reached between the United States and State of Israel regarding implementation of the loan guarantee program.”

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US states like California go broke, but there is always funding for Israel:

Subsidies for Israel, Sanctions for Iran

http://america-hijacked.com/2009/06/29/subsidies-for-israel-sanctions-for-iran/

Wasted Billions on Israel:

http://neoconzionistthreat.blogspot.com/2009/05/wasted-billions-on-israel.html

http://Tinyurl.com/WastedBillionsOnIsrael

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 US support of Israel’s brutal oppression of the Palestinians PRIMARY MOTIVATION for tragic attacks on the World Trade Center in 1993 & on 9/11 as well (look up ‘Israel as a terrorist’s motivation’ in the index of James Bamford’s ‘A Pretext for War’ book and take a look at the ‘What Motivated the 9/11 Hijackers?’ youtube linked at the upper right side of http://NEOCONZIONISTTHREAT.COM as well):

http://www.warwithoutend.co.uk/zone0/viewtopic.php?t=39590

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