By Carlos Gamino
If you’re like most people, you’re aware that we send a fair amount of money to our sole ally in the Middle East—Israel—but you’re not exactly sure how much.
Lawmakers just signed the biggest military aid deal our country has ever participated in; we’re sending $38 billion to Israel over the next 10 years.
It’s the largest aid deal in American history.
But it comes with a couple of strings attached.
What You Need to Know About the U.S.-Israel $38 Billion Deal
The agreement, which was signed by both countries in mid-September, includes a requirement that they spend less than 26 percent of the money in Israel (meaning that they hired Israeli contractors and defense products).
The agreement also says that Israel can’t lobby Congress for more money unless a war breaks out; traditionally, they’ve requested increases in funding each year.
Israel is far and away the recipient of the largest sums of money coming out of the U.S., and the amounts of foreign aid we send are staggering… especially when you consider that we owe China more than $1.241 trillion (that’s while we also owe other countries a whopping $2.797 trillion, for a total of $4.038 trillion). We’ve been sending Israel money since 1985.
When it comes to the cash we send overseas, here’s the breakdown:
- Israel: $3.8 billion per year
- Egypt: $1.3 billion per year
- Jordan: $300 million per year
- Pakistan: $280 million per year
- Lebanon: $80 million per year
- Philippines: $40 million per year
- Tunisia: $25 million per year
- Yemen: $25 million per year
- Colombia: $25 million per year
(If you’re like me, you were a bit surprised at the amounts we send across the board—not just to Israel.)
What Do You Think?
Do you think we’re sending too much, or not enough, money to Israel? Do you think there are better uses for that money here, at home, or would you rather see the U.S. pay down our debt to China and other nations? Here’s your chance to share your opinion—head to my Facebook page or Twitter to sound off with what you think!