Israelis Fight over Defense Spending

December 28th, 2011
in Background, econ_news

from WikipediaEconintersect:  Reports are appearing in the press about budgetary considerations putting a crimp in the normally aggressive defense spending of Israel.  The Israel National News characterized as “leftist elements” those that seek to reduce defense spending to preserve socioeconomic commitments.  According to Globes the Knesset Joint Committee on the Defense Budget approved today (Wednesday, December 28) a $1.65 billion increase in the defense budget , a move strongly supported by Prime Minister Binyamin Netanyahu.

Follow up:

The chairman of the Knesset Foreign Affairs and Defense Committee, Shaul Mofaz of the Kadima party, voted against the budget change and issued a statement afterwards (The Jerusalem Post):

“Why aren’t budgetary surpluses used to take care of social problems that were protested by citizens last summer?” Mofaz asked. “The government must find the proper balance between social and security needs, and the public should know exactly where the additions to the defense budget come from.”

The defense funding increase was funded by appropriations not spent in other departments, including the Welfare Ministry, Immigrant Absorption Ministry, pensions and National Insurance.  This sounds like the U.S. Social Security Trust Fund redux.

Sources:  UPI, Israel National News, Globes and The Jerusalem Post

Hat tip to Sanjeev Kulkarni










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.















 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved