Nov. 1 (Bloomberg) -- Israeli Defense Minister Ehud Barak’s proposal to increase defense spending and bring expenditure beyond planned limits “mortgages Israel’s future” to huge debts and endangers the economic stability of the country, the Finance Ministry said in an e-mailed statement today.

To contact the reporter on this story: Alisa Odenheimer in Jerusalem at aodenheimer@bloomberg.net

To contact the editor responsible for this story: Louis Meixler at lmeixler@bloomberg.net