U.S. Defense Cuts Will Hit Israel, Too
U.S. defense cuts will hit Israel
As the U.S. Congress wrangles over spending, many in Israel's defense establishment are beginning to tally up the potential costs if the sequester goes through:
The pending US budget sequester on March 1, 2013, is liable to reduce military aid to Israel by over $700 million in the 2013 fiscal year, pro-Israeli sources in Washington told "Globes". The cut includes a $250 million reduction in current aid, which is due to total $3.15 billion, and the possible loss of all financial aid for joint US-Israeli missile defense programs, amounting to $479 million, for a total of $729 million in reduced aid. In the best case, if the aid for anti-missile programs is only reduced, rather than eliminated, Israel will lose $300 million in aid.