There are only two alternatives - either the Netanyahu government knew that the deficit caused by their mismanagement of the economy was double what they claimed - in which case they are liars, or they did not know - in which casdethey are incompetent.
2. budget deficit
The deficit is partially because the big unions (nurses, doctors, port workers and electric company) who with support of Lapid, ZIppy and Yehimovitcj, struck and forced Netanyahu to give them pay raises.
Another reason is defense costs that have skyrocketed thanks to the disastrous ethnic cleansing of Gush Katif, again supported by Yehimovitch, Zippy and Lapid.
Israel has economic problems, but thanks to Likud they aren't so bad. The sad thing is the opposition will only make things worse.
Ten Billion Dollars .Six Million Jews.Two thousand dollars in Memory of Our Marytred Jews Yearly .The Gallus The Israeli Moguls can give some of the Ten Billion .Then there is the endemic and inherent corruption .Even Dayan was against the Settlements for Local Autonomy for the Palestinians with a confederation with Jordan Hashemite Jordan.But now it's too late .Time to Slow the Settlements and Redistribute the Wealth as in the Schmita and Yoval.Offer Peace to Humanitarian Arabs but not Jihadi and Fatah Ba'ath Torturers.The Right of Return Will have to Wait .
6. Not a surprise
Israel has a fundamental economic problem. Huge percentages of the population (haredim, Arab women) that isn't educated and just don't work and because of our horrible system of governing, we keep paying them not to work. Western countries don't have that problem. I don't know how much longer we can keep burying our heads and pretending that this doesn't need to be addressed immediately.
7. Yes, Tzipi empty head and Yair the Model = economic geniuses
Shelly the TV anchor is not far behind them
8. US ran a 7% deficit in 2012.
9. Add this to the 70 billion IEC debt...
...and we have a whopping big bill of 110 billion shekels or roughly $27 billion.
Since there are only 8 million of us Israelis it's gonna take us a long time to pay off the overspending by the people we're voting for.
Maybe the first thing they should do is fire the overpaid fatcats at the Israel Electric Company, then either fire the other 90,000 fatcat workers or roll their salaries back,
And, of course, immediately cancel the electricity bills of all those 100,000 IEC workers that you and I pay for.
Brian Cohen ,
Judean Peoples Front
10. Likud -Beitenu will lose votes now.
Other parties are already rushing to get those votes. They declare being the sole party working to strenghten the middle class . But we all know that promesses given ten days before the elections will have the value of a passing wind.
Nora Tel Aviv
11. How much of that NIS 39B went to cover the Gaza war?
How much was used to protect Beer Sheva, Ashdod, and Tel Aviv?
Tel Aviv & NY
12. We should be proud of such a low deficit
Just for a check up: The 'well being' Republic of Germany has over 10,000 Billion NIS deficit with over 80% of its GDP. Israel has only laughable 39 Billion NIS (while having around one tenth of German citiziens). Good job Bibi!
13. Israel's the only country that has reduced its national debt
Israel has one of the strongest economies in the world relative to its size.
There is a big difference between a budget deficit & the national debt. The summer 2011 protests demanded more spending on social programs. This causes an increase in the deficit if taxes are not raised substantially.
Ramat Gan, Israel
14. #2 - you understand nothing
As the Likud tell us a strong prime minister means a strong Israel - theproblem of course is that a weak prime minister - such as Netanyahu is bad for Israel. The deficit is a direct result of Netanyahu's complete lack of backbone - evidence a prt strike that lasteed minutes before he backed down, the billions wasted subsidizing the
Haredim to take over the country, building roads to hand over to the Palestinians - making populist promises without budgetary support. Face it - Netanyahu is a disaster area that cannot be trusted with the economy or the country.
15. ECONOMIC LOGIC
As this article stated spending went down with the raise of taxes. In our home we have cut down on spending, because our salaries have not gone up. While some people like harbor , electric and higher government officials make obsene high salaries ( a driver with IEC makes 50.000 shekels a month), we are getting squeezed more and more. No doubt they will raise gas prizes and other things essential to us, but we will keep on cutting down our spending, we have no choice.
16. it started with the attack on telecom companies
First the attack on the telecoms healthy financial status by obscene competition - then the social protest - then the lack of tax revenue from the above- then the deficit- and now the country is in big trouble