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MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Japan- Government, DPJ Agree On Third Extra Budget

Posted by WARREN MOSLER on September 28th, 2011

This spending does add net financial yen denominated assets to the private sector:

Japan DPJ Policy Chief Maehara: Government, DPJ Agree On Third Extra Budget

By Kosaku Narioka

September 27 (Dow Jones) — The Japanese government and the ruling Democratic Party of Japan agreed on the third extra budget, totaling about Y12 trillion, for the fiscal year ending March 2012, the DPJ policy chief Seiji Maehara said Tuesday.

Under the plan, non-tax revenue amounts to Y7 trillion, he said. The government is going to sell all Japan Tobacco Inc. (2914.TO) shares it owns to generate part of the revenue, he said.
The government is planning to issue reconstruction bonds and is going pay them off in 10 years or longer, he said.

One Response to “Japan- Government, DPJ Agree On Third Extra Budget”

  1. Roger Erickson Says:

    Paying off fiat? To whom? This is NOT the Japan we knew even 12 years ago.

    Did Harvard Economics invade Japan?

    Reply

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