politics

Gov't plans for spending cuts if money supply runs out

27 Comments

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Interesting times. I'm glad I have no long-term ties to Japan.

3 ( +5 / -2 )

Forget about buying the SKGBs.

0 ( +1 / -1 )

“Failing to pass the bill will give markets the impression that Japan’s fiscal management rests on shaky ground,” he said.

Gives the impression? Japan is 1 quadrillion yen in debt and runs a near 50% annual deficit. What about this would give anyone any other impression except "that Japan's fiscal management rests on shaky ground?"

7 ( +7 / -0 )

Okay ... time to give the Liberal Democrats and New Komeito politicians a swift kick in the butt. They are refusing to do anything until an election is held ... and they are the ones who are holding up the passage of all the important government bills.

Actually, the Liberal Democrats and New Komeito could care less about the people of Japan. They are concerned only about their own jobs come election time. They want to be returned to the Diet with a larger group than they now have so that they can once again dip into our hard-earned tax money ... and lead Japan into more confusion ...

2 ( +2 / -0 )

Let's hope they implement some REAL and lasting cost cutting measures. I know this is just a ploy to oust ANOTHER prime minister, but we can always hope.

Even monkeys can type grammatically correct sentences given enough opportunities.

0 ( +2 / -2 )

with a deficit financing bill blocked by opposition parties trying to force Prime Minister Yoshihiko Noda into an early election.

Blackmailing everyone in Japan, these guys are suppose to be helping Japan, they are only helping themselves. Roll on new PM this is total BS

3 ( +3 / -0 )

Again personal interest and dysfunctional party politics wins over cooperating to help the people of your own country. Just like an afternoon episode of Mito Komon, story always ends the same way. How long are people willing to let this dog and pony show go on?

Putting personal or party interests ahead of your elected duties should be a jail-able offense, that'll put a boot up the old boys club. Pathetic.

2 ( +2 / -0 )

Unless the bill clears the current Diet session that ends on Sept 8, the government will start suspending or reducing some state spending to avoid running out of money for as long as possible, the finance ministry said on Friday.

This is an easy one. Just stop paying the people in the Diet first, saying that there just isn't enough money and let's cooperate, please. Within a few days, lo and behold, the bill will pass.

8 ( +8 / -0 )

Putting personal or party interests ahead of your elected duties should be a jail-able offense.

Which is why the lawmakers will never pass such a law, it will be career-ending for the bulk of them.

7 ( +7 / -0 )

Cut some of the wasteful construction budget. Rebuilding in Tohoku is OK, but stop building the bridges to nowhere and the expensive rural city/town halls.

3 ( +3 / -0 )

Bruinfan - "Cut some of the wasteful construction budget. Rebuilding in Tohoku is OK, but stop building the bridges to nowhere and the expensive rural city/town halls."

I cam see you've read Dogs and Demons, but have you actually lived here? :-)

0 ( +1 / -1 )

"All state spending will be targeted, except for those that will severely effect public livelihood such as police, national security and disaster relief."

I notice health care and pension, both which severely affect public livelihood, are not mentioned.

1 ( +2 / -1 )

Im so sad to see the well being and livelihood of japanese people are at stake because of a bunch of people hungry for power. The politicians should be fighting for japan! and not tearing the country apart playing dirty political games between each other. They are supposed to be representing people who vote and put their faith on them to make Japan prosper and yet they are not acting on the best interest of the people but the PARTY?? They could do a better job in making a good impression on their "PARTY" by innovative solutions instead of opposing everything without good reason, boycotting or being absent on meetings. Such a disgrace, dirty and coward attitude....

1 ( +1 / -0 )

"...except for police, national security..."

if Japan is "safety country," why do the police and other law enforcement agencies require so much manpower and funding? An old article in the New York Times said Japan spends more on law enforcement per capita than other country in the world, although this was before 9/11.

Single and simple criminal cases in Japan can have literally hundreds of officers assigned. I mean, let's get real.

1 ( +2 / -1 )

I sincerely hope it does come to the point where I have to believe my decision to come to Japan as a University student was rather poorly timed!

1 ( +1 / -0 )

Anything that'll kill the yen is good with me!

0 ( +0 / -0 )

Anything that'll kill the yen is good with me!

Amen brother!!

0 ( +0 / -0 )

The next time the majority of the idiots that make up the govt & opposition are in the diet, ALL doord shud be quickly sealed from the outside then we walk away & rejoice

The politicians are so far beyond PATHETIC words cant describe these imbeciles

1 ( +1 / -0 )

JeffLee: " An old article in the New York Times said Japan spends more on law enforcement per capita than other country in the world, although this was before 9/11."

Those air-conditioners they sit under all day cost money! Plus, think about how much it costs to chase their own panty thieves and up-the-skirt film buffs! Back to politics, though, I've talked to a LOT of Japanese people recently who are finally starting to say they are fed up... the question is, what can they do? Along with said frustration is a frustrating amount of apathy. There is a growing number of protests occurring, and in larger groups than in the past, which is promising, but I pray it is not just the latest trend that will be done soon. The saddest part is that nothing can be done.... there is no one to vote for as a viable alternative, and even if there is, small towns still have major lack of representation and can choose but the LDP or DPJ, so the seats for these old codgers are guaranteed.

Japan needs a complete reset. They somewhat successfully copied the Western model of government (Britain), but as time goes on it seems all they copied were the negative parts. I mean, come on, now Abe wants to run for PM again -- the same guy that quit within a year, and he's ALLOWED to put his name in the hat. I guarantee, when the LDP takes power in October or November, NOTHING will change. They'll blame all the promises they cannot live up to but made to get in power on the DPJ, and the DPJ will demand new elections within a year.

I pity the children who have to write tests about who was PM from when to when.

2 ( +3 / -1 )

they should take the term "fiscal cliff" and throw it off a cliff!!!!

it is so friggin overused these days it's driving me nuts

0 ( +0 / -0 )

Unfortunately, the politicians never cared about anyone but themselves and the companies that fund them. sadly this bill will get blocked, if not, Noda well be kicked shortly afterwards. Then, whoever is elected will try to reverse All the progress he made, and hurt the economy as long as it benefits themselves.

0 ( +0 / -0 )

Am happy I sold all of my Japanese Government bonds

Did you mean that you are happy that you sold you JGBs? Because you should be, both to protect your own wealth and to do you part to stop enabling the government to continue its destructive economic policies. Sadly, only the implosion of the debt market will stop this insanity as the government has neither the ability nor the willingness to stop itself.

1 ( +1 / -0 )

saidani, I am ecstatic about having sold those bonds and buying precious metals! The interest rate on the bonds was beyond bad. About the government, I have not voted for any of those in power. The farmers in the mainland control the process.

Look the sun will come up tomorrow and this same nonsense happens in America too! They will make some sort of compromise sooner or later.

0 ( +1 / -1 )

Cut everything 10% including welfare, but don't cut the special projects the local politician arranged for the local area!

-1 ( +0 / -1 )

@YuriOtani

I am ecstatic about having sold those bonds and buying precious metals! The interest rate on the bonds was beyond bad. About the government, I have not voted for any of those in power. The farmers in the mainland control the process.

Look the sun will come up tomorrow and this same nonsense happens in America too! They will make some sort of compromise sooner or later.

Well said!

0 ( +0 / -0 )

@yuriotani "look the sun will come up tomorrow and this same nonsense happens in America too! They will make some sort of compromise sooner or later."

The sun will definitely come up tomorrow, but the Americans know one or two tricks in 'milking' the Japanese money when they running out of funds -- vivid example, the Secretary Clinton's new game plan to be 'back' to Asia is great, guess who is going to pay for it ?

0 ( +0 / -0 )

The sad irony of all this is that frankly, Noda allowing this to happen is probably the DPJs only chance of surviving the next election, since it would show the desperation of the LDP to trigger an election.

I'd note however that given that the LDP leadership is about to come up for a vote, the pressure on Tanigaki to force an election at all costs before he loses his job as LDP leader will be off, and any new leader (or even Tanigaki if he gets back in) will no longer be under the blowtorch to force an election at all costs, and will probably see the damage caused to the LDP would be greater than the benefit of a snap election. My guess is Ishiba will be the new LDP leader, and he will start by reaffirming the 3 party alliance with the DPJ and support the passing of the deficit financing bill before a crisis is caused.

0 ( +0 / -0 )

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