(Editors note: I really regret having written this, at the time, in searching for a solution, I compromised my values, but now this piece is totally out of sync with reality, Gaza changed everything, including the awareness of the whole apartheid / sectarian agenda.)
There is a debate going on about whether the solution for Israel is a one or two state solution. Both Avnery and Olmert (just a few days ago) have said this. One state might mean not having to withdraw the settlements. This is what Rabin Peres were doing 15 years ago. But with the clear realisation that the majority population would soon be Arab, something would need to be done to insure an ethnic western majority (or as in the South African situation, the colonisers remain in charge of business).
Allowing non Jews to immigrate is an option, it would also be a way for Israel to say thank you to its US non Jewish friends that have been loyal. There is a risk of Israel and the US going in different directions anyway. Think of it like when the US left Vietnam or Iran, natives that were loyal to the US also went to the US. so now those that were loyal to Israel would also be allowed to immigrate to Israel. It would take care of the demography problem (too many Arabs) It would cater to so-called Christian Zionists, it would revitalize the empty immigration to Israel. Finally it would prevent a massive anti Israeli backlash from the recession headed US. Because there would be so many US citizens in Israel too.
With regard to allowing non Jews: How many of Israels population is anyway assimilated. Even if they think they are not. Put them next to a Lubavitcher and they look assimilated. This would also prevent Israel being hijacked by the large Russian community, which in the absence of US support is a possibility.
If such a radical rethink is going on, we could also get some pleasant surprises in the way of social and family law reforms.