pollux
Posts: 657
Joined: 7/26/2005 Status: offline
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I read the paper. Nowhere does it mention anything about housing grants. What it does mention are loan guarantees (basically a situation where the US co-signs the loan). A loan (even one with a co-signer) is not a grant. The figure of $10B is mentioned, but it is also stated that Israel has not drawn the full amount of $10B, because the flow of Russian refugees (which is what the money was for) has slowed. The issue of repayment or loan default is not discussed in this paper. Here's what the paper had to say about this $10B: quote:
In late 1990, Israel proposed that the United States government provide $10 billion in loan guarantees over five years to finance the housing, infrastructure, and jobs needed to settle in Israel an anticipated 1 million immigrants from the former Soviet Union. Under the proposal, Israel would borrow $10 billion from U.S. commercial institutions, and the U.S. government would underwrite the loans, agreeing to pay the commercial lenders if Israel defaulted. In September 1991, President George H.W. Bush asked that Congress delay consideration of the Israeli request until January 1992, so that the Soviet refugee issue would not interfere with Secretary of State Baker’s attempt to arrange an Arab-Israeli peace conference. In February 1992, Secretary of State Baker told Congress that the Administration would approve the loans only if Israel agreed to stop building or expanding settlements in the occupied territories. Negotiations among Israel, the White House, and the Senate Appropriations Committee failed to find compromises on the conditions; the Israeli government refused to stop settlement activity, Congress rejected full White House discretion over the funds and conditions, and the White House insisted on Israeli promises to stop settlement activity in the occupied territories. Prime Minister Rabin’s announcement of a freeze on new housing on July 13 apparently met the Bush Administration conditions for the loan guarantees. The President and Prime Minister Rabin announced on August 12, 1992, that the United States would support loan guarantees for Israel. The loan guarantees were approved under Title VI, P.L. 102-391, (H.R. 5368) on October 6, 1992. The last tranche of the $10 billion was made available in October 1996 (for FY1997), but Israel has not drawn the whole amount available because the number of immigrants arriving from the former Soviet Union has decreased. The loan guarantees were used for infrastructure projects. Interesting. It's pretty clear from that paper that these are loan guarantees, not grants. Why did you use the word "grant" to describe a loan? They are two different things. However, I did find this quote: quote:
The main vehicle for expressing support for Israel has been foreign aid; Israel currently receives about $3 billion per year in economic and military grants, refugee settlement assistance, and other aid. And this: quote:
Since the mid-1980s, total annual economic and military aid to Israel has averaged $3.0 billion-$3.5 billion Even if you consider the loan guantees to be "grants" (I don't, but let's assume for the sake of argument)...let's do some math. Let's say that over 10 years Israel drew $7.5B of the $10B available, and that this debt was immediately forgiven. $7.5B / 10 years = $750M / year. Add that to the figure I quoted earlier (this is the same figure used on meatcleaver's anti-Israel website, btw). $2.8B + $750M = $3.55B / year. We're still in the same ballpark -- it's not even CLOSE to being three times the amount given to Egypt -- and that's accepting your argument that these are grants and not loans! quote:
everyone knows we give way too much to Israel Um, no...everyone doesn't know that because what you've said isn't a fact. It's an opinion. And one rather poorly supported by an ad populum at that. quote:
this is my tax dollars.. I have a right not to like it You are certainly entitled to your opinion, but not your own facts. It's a defensible argument to say that the US contributes too much foreign aid to Israel. It's not a defensible argument to say that Israel gets 3 times more than Egypt.
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