Speaker. in this era when trashing government programs seems to be more politically correct than praising govern. ment success. it is a pleasure indeed to call attention to a program that has achieved remarkable success. This Is the loan guarantee program that was Instituted In 1992. under terms of which the United States Government guaranteed loans to the Government of Israel totally $2 billion per year for 5 years. The funds were provided to assist the Government of Israel deal with the massive Influx of 700.000 Immigrants from the former Soviet Union and other areas. The United States did not loan the money.. it had no other obligation than to cosign the note and act as an Insurer of the loans. There Is no risk to the United States. unless Israel defaults on the loanssomething Israel has never done on any previous United States loan.
Keywords matched
Immigrants