Several important questions come to mind immediately. First. what in fact is the socalled Housing LoanGuarantee Program money for? Is it. as we have heard it described. an important humanitarian program of housing loans for immigrants? Or is it for something else. something much broader? Second. what is the likely impact on the U.S. taxpayer? Is the risk of default substantial and will huge liabilities accrue to our taxpayers? Third. what are the ramifications in terms of U.S. policy toward settlements and ultimate peace in the Middle East? My view is that the economic rationale is questionable. and most of the funds may not end up as a direct humanitarian program for Soviet immigrants at all. Further. economic reforms which are needed in order for Israel to continue to be able to repay its debts are in some doubt. Infusion of new funds guaranteed by the United States. along with the additional money made available from other sources as a result of United States guarantees. may well work directly against economic reform and longterm stability in Israel. as well as running counter to United States policy toward settlements in the occupied territories and the peace process in the Middle East.
Keywords matched
immigrants