The $3 billion dollars = NIS 11 billion. The U.S aid accounts for more than a quarter of Israel's defense budget. NIS 3 billion budget cut is $ 815 million or next to nothing in real defense cuts. The military industry is making a big deal outta this to instill fear and get the public to drop the socio-economic spending in favor of "security."
Islamic State blows up tower tombs in Syria's Palmyra (Reuters)
from the article: IDF battle readiness to suffer if budget cut, senior officers warn