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Netanyahu is responsible


Fischer’s resignation raises some questions. Is it a vote of no-confidence in Netanyahu and Steinitz? After all, Fischer wants next year’s deficit to be 2.5 percent, not 3 percent, but the two would not accept his opinion.

When it rains bad economic news, it pours. And over the past few weeks, Prime Minister Benjamin Netanyahu has been getting soaked.

First there was the news that the state budget deficit for 2012 was an astounding NIS 39 billion, making it clear to all that he and Finance Minister Yuval Steinitz had failed to manage the budget properly. Then came the reports that bringing the 2013 budget into line would require deep spend...