Today's Coming Crisis Movie

Monday, January 14, 2013

Netanyahu government doubled budget deficit to buy votes

The Finance Ministry's announcement on Sunday that Israel's budget deficit for 2012 was more than double the government target makes it impossible for Israel's leaders to cover up their irresponsible behavior any longer.

No longer will Finance Minister Yuval Steinitz be able to compare Israel favorably to Europe, not after the announcement that the 2012 deficit was 4.2 percent of the gross domestic product, far exceeding the government's target of 2 percent. No longer can Prime Minister Benjamin Netanyahu engage in wordplay about growth and employment. The fact is that the two of them failed miserably in their primary task: protecting the public coffers.