Gov't tables record Y88.548 trillion budget to buoy economy

Sunday 21st December, 04:20 AM JST

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

› Login to comment

4 Comments

some14some at 10:21 PM JST - 20th December

Another extra budget will be necessary and total for the year 2009 may reach 100 tri. So, Govt missed golden opportunity, should have announced 100 tri for once in 100 year recession, that would have given strong message to 'global' markets !
billclinton at 11:34 PM JST - 20th December

Most of the money will find its way into the coffers of the politicians earned their cut by allowing the bill to go through.
930148mike at 06:41 PM JST - 21st December

Japan's economy needs the 88.5 trillion yen (or US$990 billion) boost proposed by the Aso Government if the nation is to recover its prosperity. Only two days ago, the Bank of Japan cut short-term interest rates to an unprecedented 0.1%, following grim predictions from the Cabinet Office. The Government expects the economy to contract almost 1% in the year ending 30 March, with no growth at all during the next 12 months, a sharp rise in unemployment and a return to deflation next year. In short, Japan is facing its worst fiscal crisis in decades and must take drastic steps so as to improve matters in the medium to long term.
HeathenCabin at 02:05 AM JST - 22nd December

Japan's economy needs the 88.5 trillion yen (or US$990 billion) boost proposed by the Aso Government if the nation is to recover its prosperity. Only two days ago, the Bank of Japan cut short-term interest rates to an unprecedented 0.1%, following grim predictions from the Cabinet Office. The Government expects the economy to contract almost 1% in the year ending 30 March, with no growth at all during the next 12 months, a sharp rise in unemployment and a return to deflation next year. In short, Japan is facing its worst fiscal crisis in decades and must take drastic steps so as to improve matters in the medium to long term.

This is such an strange statement. Where does the money come from? Oh thats right keep that printing press going, unless the government cashes in on the US debt bonds that are purchased. The economy cannot produce anything that is required to pay for 88.5 trillion yen! This stupid, and will not have the desired effects. It is simply pump priming, and it will fail just like the many other times the Japanese government has done it in times of the past. Apparently having the government do everything is akin to having everything being fixed, which is a lie and more government BS! The government created the problem, and interest rates at .1 percent does not help, especially since the central planning of the government is trying to dictate what the economy needs even with interest rates at .1 percent. There is not any deflation even, you only notice that prices decrease in regards to other currencies, but you do not see any cars decreasing in value yet. Japan might as well jump off a cliff to its death, as the more government becomes involved the more the Japanese people will suffer. Your solution fails, and always will since this is what Japan has been doing for 20 years. 20 years of FAIL!