Government Approves Defense Budget Cut

The Israeli government has voted to decrease the defense budget by 2.7 billion new Israeli shekels (US$700 million) over the next two years, the Jerusalem Post reports.

Earlier plans anticipated a defense reduction of NIS 3 billion (US$779 million).

Defense Minister Ehud Barak said the decision was needed "given the economic and social reality," reported Israel's Ynet News.

There was also a cut in the budget for the Public Security Ministry of NIS 700 million (US$182...