Is the modern nation of Israel still God's covenant nation Israel?

Les explains that the little nation sitting in the east is still the nation of Israel, which one day will be the apple of God's eye. But they are not that tonight because they are in unbelief. He warns not to expect the government in Jerusalem to be godly or more righteous than any other government; they are secular, ordinary human beings doing what they think is right, and they are just as much under the control of the god of this world as Washington D.C. is. Yet there is an exception: they are still God's covenant people, and right now they have been set aside. They are spiritually blinded for the most part as a nation, but God is not through with them. He will yet pick up where He left off, and His mercy will not depart. Les connects this to the final covenant God gives to Israel, which is as yet future. It is not appropriate to put Israel under this covenant promise tonight, but they will one day enjoy it.