Speech #1020069330

These guarantees are also a low risk investment. Israel has a perfect debt repayment recordit has never defaulted on a loan or been late with a single payment in its history. Moreover. each past wave of immigration has resulted in growth for the Israeli economy. Economists predict that the influx of 1 million new consumers from this immigration will expand Israels economy by an average 9 percent per year through 1995. This expansion will allow Israel to comfortably service its new debt. Israel has already committed to do all It can to absorb these immigrants. Israeli taxpayers. who are already overtaxed. will shoulder most of the costs of absorption with new tax Increases. It is also interesting to note that a record 20 percent of Israels budget will be spent on absorption this yeareclipsing defense for the first time as Israels largest budgetary expenditure. The current wave of emigration to Israel is one of the clearest rewards from a successful United States foreign policy toward the Soviet Union over the past three decades. Under United States leadership. worldwide attention has been focused on the plight of human prisoners in the Soviet Unionover 1 million of which are Jewish. The fall of the iron curtain. and the subsequent relaxation of emigration laws. is a testament to the realization of American foreign policy goals and objectives. Now the United States has a moral obligation to ensure that the refugees are given the chance to build new lives in a free and democratic society. In addition to being a sound investment. the issue of these guarantees is a humanitarian one. They should not be linked to Israeli settlement activity or used as a political club. When President Bush was asked earlier this month whether the absorption guarantees should be linked to settlement activity. he responded by saying. "Well. I dont think it ought to be quid pro quo." This position was reiterated by White House Spokesman Marlin Fitzwater this past week. when he said. "there is no linkage." The future of Soviet Jewish immigrantsthose who are fleeing tyranny to democracyshould not be held hostage to unresolved issues in the Middle East peace process such as Israeli settlements in the administered territories.