Obama wants to stop subsidizing Israel's defence industry
US President Barack Obama
New York - Arab Today
US President Barack Obama is now looking to end this US subsidy of Israel's defense sector, according to US and Israeli officials, according to Bloomborg.
They say the "offshore procurement" provision, unique to Israel's aid package, is one of the last obstacles to completing an agreement to extend aid until 2029.
Obama would like to phase out the agreement that allows Israel to spend 26 percent of US annual aid at home. Israeli Prime Minister Benjamin Netanyahu, so far, disagrees.
Obama and his supporters like to tout US military aid to Israel as an act of the president's unprecedented generosity. The US has given Israel nearly $24 billion under Obama, more than any other US president.
Source : MENA
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