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U.S. Defense Cuts Will Hit Israel, Too

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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.

(AP Photo)