Shekel Strength: Israel Is Rich, So Why Do We Give Them $8 Million A Day?

The Israeli economy is booming as never before, with newly found natural gas riches, almost full water independence, and a new study giving the shekel the strongest rating of 31 major currencies. Given all this, many are asking a vital question more loudly than ever before: Why is a debt-ridden, sequester-suffering U.S., bolstered by an ever-greedy defense industry, still giving Israel $3 billion a year? Update : For the first time, the Pentagon is seeking $220 million in "new money" for Israel's Iron Dome missile system. In other words, the U.S. is looking to spend more, not less, to "defend" Israel.

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