Toshihiro Nikai, secretary general of the Japanese Liberal Democratic Party Photo: REUTERS file
politics

Japan needs extra budget of over ¥10 tril: LDP No. 2 Nikai

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"Where would 10 trillion yen come from?" asked Aso, who doubles as deputy prime minister.

Why not take it out of your drinking and entertainment budget!

21 ( +22 / -1 )

Tax the corporation whose executives and board members are receiving huge profit kickbacks and if that doesn't take from the state budget that pays the Royals and end it.

15 ( +15 / -0 )

Where would 10 trillion yen come from?" asked Aso.

Well, you're the only one in the world who issues yen, so the answer is "You." Issue your currency, the yen, to the contractors and others who will build said infrastructure. Then issue bonds to match the yen issuance, and later pay back the bond holders, most of whom are in public sector anyway, and whose bond income will flow back....to you.

3 ( +5 / -2 )

If you look up incompetent and out of touch with reality in the dictionary, this dude's mug should show up. On top of raising taxes, he's clamouring for an increase in budget? When will the real competent opposition stand up? Sick and tired of these useless, entitled boomers

15 ( +16 / -1 )

More money down the black hole...

11 ( +12 / -1 )

I must admit I am surprised that Aso has questioned this at all. Of course he will give in and the money will flow to big corporations and construction giants, it is infrastructure they are talking about rebuilding after all.

6 ( +6 / -0 )

We learn in Macroeconomics the goal is to provide a stable economic environment that provides strong and sustainable economic growth through fiscal policies.

Leaders need to show us a larger picture and how their ideas fits with sustainable fiscal management. Not doing so is irresponsible.

7 ( +7 / -0 )

Pure insanity, nothing more, nothing less!

7 ( +7 / -0 )

Oeh! A duel between a 79 and an 80 year old about our financial system, doesn't bode well.

12 ( +12 / -0 )

@alwaysspeakingwisdom, it should be clear why a 79-year-old and an 80-year old arguing about something like this is bad news for all of us: inevitably the two oldsters will settle on a "solution" that involves expanding Japan's already crushing national debt even further -- which will cause hardship for the generations that are still working when these two men are dead, but no significant hardship to them or anyone in their generation.

6 ( +6 / -0 )

They are stating they need the extra money because of the natural disasters. They are supposed to have reserves for this purpose.

Does anybody else remember Abe and his goons stating the sales tax increases were earmarked to pay off the public debt? I am yet to see the sales tax increases used for anything besides filling government coffers.

Just print more money! That's the go! Increase taxes while you are at it. Who cares about the state of Japan's economy in 20 years. There's plenty of room left at the bottom with Spain and Greece.

9 ( +10 / -1 )

Nonsense. Creating bubble facts and figures out of thin air for the gullible.

6 ( +6 / -0 )

Kick the can down the road.

What’s another ¥10 trillion when the amount of debt has already reached about ¥9 million per person.

They have been doing good his forever, the lack of diversity in the upper echelons of the government means that they don’t have a clue as what else to do.

7 ( +7 / -0 )

U.S. debt exceeds $23 trillion for the first time in history

and

Italy, which has the largest debt in absolute terms in the European Union, is to increase its debt burden to 136.2% of GDP this year. 

So much for women and diversity

and of course Japan lends money to both America and Europe.

So the old Japanese dude lends money to the poor woman and white guy who can't mange their money

LOL

-14 ( +0 / -14 )

strengthening infrastructure-building and reconstruction efforts

ah, continuing with the 'if in doubt lay concrete' approach. well, Minami Bōsō hasn't got an international airport, or an elevated expressway, or a bridge across the mouth of Tokyo Bay to Kanagawa, or a local monorail..... lots of scope there.... (^_-)

2 ( +2 / -0 )

US debt doesn’t amount to ¥9 million per person.

Probably not even half that.

Besides...the US population is only going to grow not rapidly shrink like Japan’s.

With the falling population Japan’s debt per person will balloon exponentially.

Measures to attract more immigrants to Japan,except for ‘trainees, are also failing spectacularly thanks to the poor pay and working conditions.

Japan is really kicking the can down the road and these 2 old men couldn’t care less.

5 ( +7 / -2 )

One has to wonder where all of this money really goes, and how it it channeled to various business sectors that funnel votes to the LDP. Construction alone can't account for it all.

7 ( +7 / -0 )

I say they print up $200 Billion worth of yen.... use $100 Billion as stimulus and to fix up after the typhoons. Use the other $100 Billion to purchase and store precious metals and other non-perishable commodities. This way Japan can actually put some tangible assets on their balance sheet... Look... there is no way in hell Japan is ever going to pay down its massive debt... is isn't going to happen. At some point it will be written off. Why not just print the crap out of the Yen and buy Assets that have actual tangible value. The yen would finally weaken too and exports would climb as they've wanted all along.

-1 ( +0 / -1 )

Japanese debt is owned by the Japanese with assets greater than the debt

3 ( +5 / -2 )

With the falling population Japan’s debt per person will balloon exponentially.

Measures to attract more immigrants to Japan,except for ‘trainees, are also failing spectacularly thanks to the poor pay and working conditions.

Japan is really kicking the can down the road and these 2 old men couldn’t care less.

I've been often saying this, but 1100 Trillion national debt is not really as big issue as it looks (although I don't think it healthy) when looked at with the size of liquid assets public sector ( and not to mention private sector) owns both domestic and overseas. Besides, the size of individual (household) financial assets 1800+Trillion (of which 52% are Cash/Deposit) of which 60% + is owned by the elderly. Think about inheritance tax over cash-equivalent assets and the estimated revenue for next 30years or so. Basically Japan is funding Japan internally and still holds the biggest net external asset in the world, which is the reason of JPY still risk aversion currency

-1 ( +2 / -3 )

Yen should be $1.00 = ¥150

0 ( +1 / -1 )

Sounds like a cheap way of saying 12% consumption tax is not enough!

4 ( +4 / -0 )

Eeeerrrr better idea RETIRE. He is 80 and still working? Obviously his fiscal sence doesn't include his own retirement plan? These idiots as they are idiots who have so little vision beyond working literally to death should have no say in the future. What's wrong? Just look at this (swallowing vomit) man thing.

2 ( +2 / -0 )

Sounds like a cheap way of saying 12% consumption tax is not enough!

It's not really, more like 20% within the next decade or two!

2 ( +2 / -0 )

Nikai, who holds the LDP's No. 2 post after ( tommy trouble) Prime Minister Shinzo Abe, stressed the importance of fiber in people's Diet. Something we should all do while using both sides of the paper. Can't waist a cm in the times that are coming.

2 ( +2 / -0 )

10 trillion yen of additional debt added to Japan's sovereign debt.

-1 ( +0 / -1 )

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