Editor’s Note: Wow, that sure is a lot of money for a country that’s well over $19 trillion in debt. Must be for all those wars they plan to continue to foment in the Middle East for the next decade.
The US has reportedly agreed a $38 billion package to deliver military aid to Israel over the next 10 years, with the pact expected to be signed “within days.” The deal will become the biggest pledge of US military assistance to another country in history.
The new aid package will see Israel receive $3.8 billion per year from Washington, an increase of $700 million from the current $3.1 billion, sources told Reuters. However, the figure fell short of the annual $4.5 billion that Israeli Prime Minister Benjamin Netanyahu had been seeking.
Following the negotiations Israel says it will not seek extra funding from the US. A previous agreement that allowed Israel to spend just over a quarter of the aid given by Washington on weapons from its domestic defense industry, instead of from the US, will be also phased out.
The terms of the deal, which is classed as a memorandum of understanding (MOU), will also include money for Israel’s missile defense program. This had previously been funded by Congress on an informal basis. A source told Reuters that the pact is expected to be signed“within days.”
However the new MOU will not be signed between President Barack Obama and Netanyahu, who have had a frosty relationship due to the US leader’s support for last year’s Iranian nuclear deal, which was bitterly opposed by Israel. Lower-ranking officials will sign the paperwork, as has been the case with previous deals.
The plan for an increase in military aid to Israel has enjoyed strong support in Congress. In April, 83 US Senators – 51 Republicans and 32 Democrats – sent a letter to the White House urging an increase in financial support. The effort was spearheaded by South Carolina Republican Lindsey Graham and Delaware Democrat Chris Coons.
“In light of Israel’s dramatically rising defense challenges, we stand ready to support a substantially enhanced new long-term agreement to help provide Israel the resources it requires to defend itself and preserve its qualitative military edge,” the letter said.
It is believed that Netanyahu agreed to the deal before November’s US presidential election to avoid uncertainties surrounding what will happen when the new leader takes office.
Contributed by RT.com of RT.com