The strategic case for Israel
The Nixon Center recently hosted a debate between the Washington Institute's Robert Satloff and Chas Freeman on the question of whether Israel is a strategic asset or liability to the United States.
Only Satloff's opening remarks are available at this point (here, pdf). Satloff speaks in favor of the relationship and argues it has been a boon, strategically, to the U.S. I think Satloff skips rather lightly over the costs, and anchors his analysis in a view of American interests in the Middle East that isn't nearly as tenable (or desirable) as it was during the Cold War. Nevertheless, it's a good defense of the case on strictly realist grounds and is worth a read.
UPDATE: Freeman's remarks are here. Also worth a look.
I think the debate is a bit too "either/or" - either Israel is a strategic asset or they aren't. I think the better context would be: is Israel a strategic ally commensurate with the level of aid they receive. (Freeman and Satloff may address this in a subsequent exchange, the full transcript is not available yet.)
UPDATE II: I think this exchange, excerpted by Josh Rogin, sets the stage nicely:
'RS: Do a cost-benefit analysis; I invite you to do this. Over the last 30 years, 30-plus years of the U.S. relationship with Israel and the U.S. relationship with our Arab friends in the Gulf -- what do you find? To secure our interests in the Arab-Israeli arena, the U.S. has spent $100 billion in economic assistance to Israel, plus another $30 billion to Egypt and small change to a couple of other places. Our losses in human terms: 255 Americans in the Beirut Embassy barracks bombings and a handful of others in terrorism in that part of the region. On a state-to-state basis, I would argue that investment has paid off very handsomely. Now compare that with the Gulf. Look at the massive costs we have endured to ensure our interests there.CF: Identifiable U.S. government subsidies to Israel total in $140 billion since 1949 ... in either case, Israel is by far the largest recipient of American giveaways since WWII and the total would be much higher if aid to Egypt and Jordan, Lebanon, and support for displaced Palestinians in refugee camps and the occupied territories were included. These programs have complex purposes but are justified in large measure in terms of their contribution to the security of the Jewish state. Per capita income in Israel is now around $37,000, on par with the UK. Israel is nonetheless the largest recipient of U.S. foreign assistance, accounting for well over one-fifth of it. Annual U.S. government transfers run at well over $500 per Israeli, not counting cost of tax breaks for private donations and loans that are not available in any other country.
'