So what if they are the only friendly nation in the region? So what if they are the only democracy in the region? Does that mean we have to give them obscene amounts of money to build more obscene weapons?
I see only 2 valid reasons for giving foreign aid: for humanitarian reasons or to promote the security of our nation.
In the case of Israel, neither of these reasons apply. Instead, I suspect the reason has more to do with political pressure than anything else. And as a result, we are actually damaging the security of this nation.
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