Word: loaned
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Dates: during 1990-1999
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Arrival in the Promised Land is a mixed blessing for Soviet Jews. While President Bush insists that Congress delay action for 120 days on the Israeli request for $10 billion in loan guarantees, Soviet immigrants remain homeless. President Bush's political posturing and reckless abandonment of principle has reached a new peak in the past two weeks. In playing his game of Mideast politics, President Bush has displayed a glaring indifference to the plight of Israel's Soviet immigrants. Just last week, Bush pledged to veto any Congressional resolution to aid Israel in the form of absorption loan guarantees...
...need not worry about footing the bill for bad loans: Israel has never defaulted on a loan in its 43 year history. The guarantees will ignite the Israeli economy, enabling a possible growth of 9 percent a year through 1995. With this economic boom, Israel would have no problem paying its debt. Moreover, because a large chunk of the $10 billion will be invested in U.S. housing companies, the loan guarantees may even improve the struggling American economy...
...should not be a matter of politics. They are people who simply need assistance, and will thrive with our help. While the Soviets are only allowed to leave the Soviet Union with $100, more than 40 percent of them are college graduates; many have years of work experience. The loan guarantees would be earmarked for providing housing, creating jobs and teaching the Hebrew language to the immigrants...
...hard to understand why Bush wants to delay U.S. backing. The loan guarantees are not an economic risk for the United States. No money will pass from the U.S. Treasury to the Israeli government. The package will only add the United States as co-signers on 10 billion dollars in loans for housing, a partnership that is needed to secure low interest rates for incoming Soviet Jews...
PRESIDENT BUSH HAS said that he wants to avoid a "contentious debate" in Congress over the loan guarantees. Such a debate, he says, "could well destroy our ability to bring one or more of the parties to the peace table." Bush's argument is nonsense...