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Welfare system could cause Israel to collapse, economist warns

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LAND OF MILK AND HONEY...BUT MONEY?
"When people talk these days about Israel's economy, they use words like booming, resilient, even "miracle." Weaning itself off socialist-influenced policies that once brought 400% inflation and 60% income-tax brackets, Israel's economy is now growing despite the international financial slowdown. Debt is manageable, the currency is strong; Israel's high-tech sector is admired worldwide. But one Israeli economist is warning that beneath Israel's back-patting lurks a hidden peril — fueled by demographic trends and political choices — that could eventually mean an end to the country."
SOURCE:   L.A. Times

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