To help Israel weather their recent economic crisis, the Bush administration, according to the BBC, has promised $1B in direct military aid and $9B in loan guarantees. This, at a time when the federal budget doesn’t have one extra cent to help American states and cities in their fiscal crises, which are universal, deep-reaching, and full of macroeconomic risks. NY Mayor Bloomberg boasted of a promise for federal anti-terror aid, but the “no firm figures” part makes me suspicious that we’ll see a repeat of the never-to-appear money promised New York City after 9/11.
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