Israel needs a bigger defense budget, and a new US security pact

The Knesset will be asked over the coming month, meeting in special recess session, to vote on expansion of the defense budget for urgent IDF weapons procurement from NIS 70 billion to NIS 90b. (a rise from $20b. to $25b.). This will push the annual defense budget to NIS 184b. (approximately $61b.). Israel’s long-term military buildup plan has grown by about NIS 50b. ($17b.) in just one year. And over the next decade, the military budget is expected to double yet still. There is currently no identified full funding source for these enormous defense expenses. Ultimately, Israel will have to cut the budget of other ministries and impose new taxes. There is no choice. The war with Iran and its proxies is far from over. In fact, 2027 is shaping up as a year of continued military conflict on all fronts – against Iran, Hamas, Hezbollah, and…