With the state Legislature still embroiled in a fight over how to close a $26-billion budget deficit, the California government is expected to issue nearly $3 billion worth of interest-bearing IOUs this month.
Starting today, major banks such as Bank of America Corp., Wells Fargo & Co., JPMorgan Chase & Co. and Union Bank of California will stop accepting the IOUs, also called registered warrants. Hoping to pressure the state to settle on a budget, the banks rejected state Treasurer Bill Lockyer’s requests to continue redeeming the IOUs for their full value in cash.
The administration’s request for $2.55 billion in security assistance for Israel in 2009 represents the first year of a 10-year U.S.-Israel security agreement to help the Jewish state face increasing threats.
Source (PDF from AIPAC)
My point of sharing this comparison is that the money going to Israel can be used to help America whether it is healthcare, creating new jobs or paying out the federal or states debt.