City Budgets

Divestment doesn’t necessarily have a big, direct economic impact on the target of a divestment campaign, but history has shown divestment can be a powerful tool for galvanizing broader support around causes that might seem distant or foreign. Nobody likes to get caught with their hands in the cookie jar. But until someone digs into the numbers, all of our hands are in more cookie jars than we realize. In Palm Beach County, Florida, the local government outright told county residents about one of the jars they were reaching into together: government bonds issued by the state of Israel. Back in March, Palm Beach County Clerk of the Circuit Court and Comptroller Joseph Abruzzo held a press conference announcing that the county government was the world’s largest investor in “Israel Bonds,” which made up $700 million of the Florida county’s $4.67 billion investment portfolio.