Israel lends back to the U.S. the money it received from the U.S., collects interest.

[Dan.Linehan]

Something new I learned today: Since 1982 we have been giving Israel massive amounts of money. Israel then loans back to the money to the U.S., then collects interest on it.

Most Americans are not aware how much of their tax revenue our government sends to Israel. For the fiscal year ending in September 30, 1997, the U.S. has given Israel $6.72 billion: $6.194 billion falls under Israel's foreign aid allotment and $526 million comes from agencies such as the Department of Commerce, the U.S. Information Agency and the Pentagon. The $6.72 billion figure does not include loan guarantees and annual compound interest totalling $3.122 billion the U.S. pays on money borrowed to give to Israel. It does not include the cost to U.S. taxpayers of IRS tax exemptions that donors can claim when they donate money to Israeli charities. (Donors claim approximately $1 billion in Federal tax deductions annually. This ultimately costs other U.S. tax payers $280 million to $390 million.)

More info: U.S. Aid to Israel

[coollikeme]

back nice deal they worked out.

[schola]

It's maddening what you discover when you dare to look past the facade that's been put in front of you.

Our whole world economic system is just insane. It's also so confusing. I think that's why most Americans just wash their hands of it all together.

Take the scam that is The Federal Reserve. Most Americans don't even know what the Federal Reserve does, so why would they care if it's privately owned or not?

Anyway, keep up the good work Dan.