politics

LDP executive says extra budget may be needed to combat COVID-19 pain

23 Comments
By Leika Kihara

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23 Comments
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The MOF, Central Bank, bureaucrats and politicians' short and long-term fiscal plan: print money until the presses break and hope they die before the bill finally comes due. 30 years on, here we are, moribund companies, a struggling middle class, a working class genuinely at risk, and a stock market fueled with funny money printed by the government.

11 ( +12 / -1 )

Good Job. PM Suga. Taking care of the Japanese people.

-16 ( +1 / -17 )

I'll take end-game capitalism for $200...

2 ( +5 / -3 )

@HimariYamada,

Suga and the LDP don't give 2 figs about the Japanese people.

All of the stimuli goes to huge Japanese companies and LDP cronies with little to know chance of the rank and file benefiting from the trickle down effect.

While the West has given its people regular stimulus checks or furloughed its workers on 80% of regular salary the LDP has just given a ONE off payment of ¥200,000 to its electorate.

Way to go,indeed.

8 ( +9 / -1 )

They need an extra budget so they can have more dinners, buy more women..but they need to travel so they don't get caught! That is really where the money goes!

1 ( +3 / -2 )

Every person with residency should be given ¥1,000,000 in coupons.

-3 ( +3 / -6 )

If there's any shortage of funds, we'd like to always respond aggressively....

Very good, I can’t wait to see that maximum aggression....lol

2 ( +2 / -0 )

... budget may be needed to combat COVID-19 pain

A pain completely brought on by the "policies" of this government.

4 ( +4 / -0 )

Good Job. PM Suga. Taking care of the Japanese people.

Sleepy Yoshi caring about Japanese people? ..rofl....good one..about the pockets of LDP cronies at most, election is coming , lets have a supplementary budget and build more roads to nowhere in the inaka to secure LDP vote. Will call it anti corona measure. LDP " democracy" in action.

3 ( +3 / -0 )

respond aggressively including by compiling a supplementary budget," Toshihiro Nikai

...says the 82-year-old who will be retired when the full effects of the money printing continue to impoverish the people he is supposed to represent. Not that this lifelong and multigenerational politician understands the people.

1 ( +1 / -0 )

The MOF, Central Bank, bureaucrats and politicians' short and long-term fiscal plan: print money until the presses break and hope they die before the bill finally comes due. 30 years on, here we are, moribund companies, a struggling middle class, a working class genuinely at risk, and a stock market fueled with funny money printed by the government.

Wow! Best comment I have read in a while. For comparison the US has already distributed funds 3 times to US residents. I received my third direct deposit in March 2021 for $1,400 for each family member tax free. I talked to a guy in the US with 3 kids and he had just received a direct deposit of $7,000 tax free as stimulus during the pandemic. Again this was the 3rd stimulus.

In addition, Biden is expanding the budget for food stamps and other safety nets, he is not just talking about it or considering it in his imagination. Japan is way behind in my opinion and I honestly do not know where they are spending the money already allotted. We see little testing, slow rollout of vaccines and a paltry 100,000 yen payment last year that you had to apply for and could be messed up by bureaucratic bungling. Sadly many of the single mother and other suicides could have been avoided if more support had been provided.

6 ( +6 / -0 )

We see little testing, slow rollout of vaccines and a paltry 100,000 yen payment last year that you had to apply for and could be messed up by bureaucratic bungling. Sadly many of the single mother and other suicides could have been avoided if more support had been provided.

Spot on.

6 ( +6 / -0 )

So this mean that the almighty LDP will ask more money from us which are already getting poorer,but it’s okay.

They can keep doing their party because they are special.

1 ( +1 / -0 )

the burrowing, debt has to be serviced.

1 ( +2 / -1 )

borrowing

2 ( +3 / -1 )

This government, or for that matter, previous/past Governments never had the tax revenue to service the long term debt liability.

0 ( +1 / -1 )

Toshihiro Nikai, the ruling Liberal Democratic Party's Secretary General

He should change his name to 地下二階

-1 ( +0 / -1 )

Japan obviously needs a couple more doses of supplementary budgets just to keep its economy alive. Increased government spending eventually turns into increased income in the private sector. And it’ll all be financed by issuing government bonds. Not a penny of your tax money will be used.

-2 ( +1 / -3 )

Why???

-1 ( +0 / -1 )

Why???

You are about as informed and empathetic as the LDP.

1 ( +1 / -0 )

No problem at all finding the money to shovel in the direction of wealthy owners of overpriced izakayas and bars. For the ever increasing numbers on the margins, eking out a subsistence existence, SFA.

0 ( +0 / -0 )

@expat

"... before the bill finally comes due." 

Really? A bill will "come due"? Please explain how this works.

Increased government spending eventually turns into increased income in the private sector. And it’ll all be financed by issuing government bonds. Not a penny of your tax money will be used.

Ah, nice that someone on this board has some knowledge, although I'd point out that around half those bonds will end up being owned by the public sector anyway, where they wont be financing anything.

0 ( +0 / -0 )

The Money is given on the left hand, and taken away on the right with ... interest.

0 ( +0 / -0 )

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