The war in Iraq is bankrupting the American taxpayer;
Israel is still getting rich.

The United States will provide loan guarantees totaling three billion dollars to Israel for 2005-2008, the U.S. State Department said in a statement.

The U.S.-Israel Joint Economic Development Group held a meeting on Monday and it was agreed that the guarantees be authorized in annual, one-billion-dollar tranches, the statement said.

“Pursuant to Congressional decision to extend the period of the Loan Guarantee Program for two additional years to 2008, the delegations agreed on a mechanism for implementing that decision,”

“The delegations agreed on the broad terms” to release the 2005 tranche of one billion dollars, the statement said, adding that the remaining 2 million dollars will be released based on economic reform and fiscal restraint by Israel.

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