The government's parallel spending trick, known as "boxes",imperils Israel's hard-won credit rating and economic good name.
Accountant General Rony Hizkiyahu, a true civil servant, is abandoning a ship with only confusion at the helm.
Distributing cash to the people isn't bad in itself. What's bad is taking global confidence in Israel's economy for granted.
Getting stimulation measures through while cutting public sector pay will take all Katz and Netanyahu's political strength.
The downgrade in Israel's rating outlook will mean higher interest rates just when the government needs to borrow extensively.
In any case the government doesn't have the money for its share.
What the Governor of the Bank of Israel is afraid of, as Israel's political paralysis continues.