President Obama with Prime Minister Benjamin Netanyahu of Israel last year. Credit Doug Mills/The New York Times
Defense News: Israel Balks at Obama’s New 10-Year Aid Offer
TEL AVIV — Israeli industry is bracing for lost funding and layoffs as a result of a proposed $38 billion, 10-year US military aid package that rescinds Israel’s ability to convert a significant portion of US grant dollars into shekels for local research, development and procurement.
While Israel still hopes to prevail upon the White House to bump its top line closer to $40 billion over 10 years, government and industry sources hold little hope of US President Barack Obama's administration wavering on Buy America demands. The proposed deal aims to follow the current $30 billion memorandum of understanding inked by both countries in 2007, which expires October 2017.
In interviews, those sources say Israeli Prime Minister Benjamin Netanyahu has pretty much resigned himself to a new paradigm whereby all of Israel’s grant aid — with the exception of funds appropriated for missile defense and pre-agreed upon programs — will eventually be spent in the United States.
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WNU Editor: All good things come to an end .... and for Israel .... what is coming to an aid is the "no-strings" attachment to the aid that they have received from the U.S. for the past few decades.