politics

Japan FY2021 budget requests likely to top ¥100 tril

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For any individual or corporation, when facing debt the immediate plan is to cut cost and to find new revenue. The LDP isn't addressing any of these issues. New revenue - Decreasing and aging population with very low birth rate. Who's going to support this society? The plan is to increase the consumption tax again. Cutting cost - Nope, the government wants to buy more military toys. How about restructuring the government? Fewer diet members with lower perks and pay? Don't forget when people were losing their jobs and bonuses this past summer abe and his bunch all received their bonuses. Even the indicted couple, Anri and Kawai got their bonuses, and what did the populace receive in return for all their taxes? Masks.

5 ( +5 / -0 )

Japan can not afford its own running cost. then all public servant should be at JPY800/hour with of course no useless bonus and the budget will be balanced. but you know the reality... Suga will print the money!

2 ( +3 / -1 )

Abenomics=Fail

Suga(no)nomics will be the same.

The companies will see stock prices rise and trillion yen projects that the average Japanese’s children’s children’s children will be trying to pay back hundreds of years from now

4 ( +5 / -1 )

Blame to tsunami, blame the pandemic, blame China.

the planet earth changed to support homos because the dinosaurs died out. Maybe if Japanese politician dinosaurs die out, Japan can renew in a new Phoenix of innovative young energized experts and leaders...

damn, have to stop texting while sleeping.

3 ( +3 / -0 )

What are tax revenues projected to be, and how does the government propose to address the shortfall?

-1 ( +0 / -1 )

Dunno how this squares with other stats, since this comes out at less than one million yen per capita.

Wiki has Japanese gov spending per capita at around 15000 USD, which is low compared to the USA, UK, Canada, Germany etc.

https://en.wikipedia.org/wiki/List_of_countries_by_government_budget_per_capita

1 ( +1 / -0 )

Japan can not afford its own running cost.

And yet it does. For many, many years. How does Japan afford things it can't afford?

Japan is struggling to restore its fiscal health, the worst among major economies

“Worst”? A strange comment, as Japan has proven time and time again it can spend tons of money into existence and maintain the global safe haven currency, low inflation and full employment. That's not how unhealthy fiscal situations are supposed to be.

The Finance Ministry estimates 25.5 trillion yen will be needed for debt-servicing costs

That’s interesting, since nearly half the national debt is owned by the Bank of Japan. So around half that money will eventually become income for the Finance Ministry. LOL. The rest will become income for financial institutions, like the pension fund, individuals and other holders of JGBs.

-1 ( +0 / -1 )

Keep printing with less and less domestic economic activity underpinning the currency.  Yes it is a mystery how JPY is a safe haven.  But eventually that will also have to change.

0 ( +0 / -0 )

Yes it is a mystery how JPY is a safe haven.

It's no mystery to me. It is a mystery, however, if you adhere to the beliefs behind mainstream neo-classical economics.

0 ( +1 / -1 )

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