Israel Could Be Harmed By U.S. Defense Cut

TEL AVIV [MENL] -- Israel has been bracing for a sharp U.S. defense cut that
could reduce contracts with the American military.
Leading Israeli companies have been tracking the debate in the Obama
administration and Congress over the U.S. defense budget for 2010. At this
point, President Barack Obama has signaled his intention to cut the defense
budget by at least 10 percent to free up funds for the economic crisis.
"The first victims of these cuts will be foreign suppliers to the U.S.
military, and that includes us," an Israeli defense executive said. "For
those companies that have been building their sales strategy on the U.S.
market, this could be a blow."