The celebrations begin on May 7, Yom Ha'atzmaut (Israel's independence day) falls on May 8 and the actual anniversary of 1948's declaration is on May 14.

Several world leaders are scheduled to attend various ceremonies, including George W. Bush who will arrive on May 14, 2008.

Israel plans to spend $28 million on the anniversary, which will include celebrations, concerts, workshops, and new infrastructure like a cross-Israel bike path.

Some Israelis plan to protest the events, calling them a misappropriation of funds by the government.

For Palestinians, who were driven from their homes in 1948 during the Arab Israeli War, the time will be no cause for celebration. They refer to Israel's independence declaration as Al Nakba or "The Catastrophe".

1. Anniversary is on May 8, 2008
2. Israel achieved statehood following the 1948 Arab Israeli War and end of the British Mandate of Palestine
3. George W. Bush will visit on May 14, 2008
4. Israel plans to spend $28 million on the anniversary
5. Events will include concerts, workshops, remembrance memorials, and celebrations
6. Money will also be spent on longer lasting infrastructure like a cross-Israel bike path and new foot paths at sites across the country
7. Some Israeli's plan to protest the events
8. Critics call the ceremonies a misappropriation of funds

In May, 2008, Long Island financier Morris Talansky was named in connection with a bribery scheme involving Olmert. On May 7, 2008, The Jewish Week News reported that the millionaire businessman and rabbi was ready to testify that he gave bribes to Olmert while Olmert served as Jerusalem’s mayor from 1999 to 2002.