Sever Plocker
Sever Plocker
Photo: Shem Olam
Amir Yaron, governor of the Bank of Israel

Israel is able to fund Iron Dome from its own reserves

Opinion: Israel needs White House to be able to make critical decisions on Mideast and rely on bipartisan support in both houses of Congress; Biden administration struggles to advance its policies at the moment, hampered by extremists from both parties

Sever Plocker |
Published: 10.14.21, 23:26
The state of Israel's economy is not much better than that of the United States.
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  • Although the Bank of Israel does not print dollars, earlier this year it foreign exchange reserves broke above the $200 billion barrier for the first time ever - an enormous amount of money for such a small country.
    4 צפייה בגלריה
     נגיד בנק ישראל אמיר ירון
     נגיד בנק ישראל אמיר ירון
    Amir Yaron, governor of the Bank of Israel
    (Photo: Bank of Israel PR)
    The shekel is exhibiting a strong and impressive performance, with the difference between the national debt and Israel's GDP is low, and the international balance of payments seeing an additional influx of $15-20 billion into the economy, annually.
    It is evident, therefore, that there is no real need to request special U.S. funding of over one billion dollars in order to replenish the Iron Dome missile defense system following the May war against Hamas.
    In fact, Israel would be wise to inform the White House that the funding is not necessary and the Jewish state could reach into its considerable reserves without it impacting the budget or adversely affecting the Israeli standard of living.
    4 צפייה בגלריה
    Iron Dome activates in southern Israel as rockets are fired from northern Gaza overnight Thursday
    Iron Dome activates in southern Israel as rockets are fired from northern Gaza overnight Thursday
    Iron Dome activates in southern Israel as rockets are fired from northern Gaza during May war
    (Photo: AFP)
    Relieving U.S. President Joe Biden from the need to approve one billion dollars for the Iron Dome would be beneficial for the administration at the time when Biden's approval rating is as low as 38% - according to some poles - one of the lowest recorded by a sitting president.
    Most Americans rate their president harshly on his performance in all aspects, from the fight against the coronavirus pandemic, to his immigration policies, the budget, inflation and the persistently rising unemployment.
    Biden is perceived as week and unable to enforce his policies. In order to avoid further embarrassment, he refrains from speaking to the press and rarely makes speeches without the help of a teleprompter.
    Polls show Biden fails to exhibit authority. What's even worse is he is no longer seen as having integrity.
    The vulnerable Democratic majority in both houses of Congress, where every elected member can veto legislations, paralyzes the government.
    4 צפייה בגלריה
    'The Squad': Democratic Rep. Rashida Tlaib, Ilhan Omar, Alexandria Ocasio-Cortez, and Ayanna Pressley
    'The Squad': Democratic Rep. Rashida Tlaib, Ilhan Omar, Alexandria Ocasio-Cortez, and Ayanna Pressley
    'The Squad': Democratic Rep. Rashida Tlaib, Ilhan Omar, Alexandria Ocasio-Cortez, and Ayanna Pressley
    (Photo: Shutterstock )
    A radical left-wing Democratic minority is offset by radical right-wing members of the Republican Party, and both hamper the policies advanced by the White House, including in matters of foreign policy.
    What is the U.S. policy on Iran? How is it to respond to the Chinese threats on the independence of Taiwan or on Vladimir Putin's control over the supply of natural gas to Europe?
    The administration has no more than feeble statements to make on those critical matters while Vice President Kamala Harris – one of the greater political disappointments, is mostly MIA.
    4 צפייה בגלריה
    נשיא ארה"ב ג'ו ביידן בפסגה של מדינות הקוואד הבית הלבן
    נשיא ארה"ב ג'ו ביידן בפסגה של מדינות הקוואד הבית הלבן
    U.S. President Joe Biden
    (Photo: AP)
    Israel, which is at a crossroads in many respects, is in need of a functioning White House, able to make decision and a bipartisan consensus when it comes to Israeli matters.
    The political bargaining around the allotment of one billion dollars for Israel is inconsistent with Israel's national interests.
    If the financial demand is lifted, it would be a fitting birthday present on the occasion of Biden's 79th birthday by relieving him of one more unnecessary embarrassment.






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