The DPJ has promised massive spending programs will cost 16.8 trillion yen ($177 billion) annually when they are fully operational in 2013. That is a huge burden for a country that has a large and rapidly growing fiscal deficit caused by stimulus packages and bailouts that never seem to work. Japan's national debt has soared to nearly 190% of its annual GDP (gross domestic product). The nation was ranked #4 in the world in per capita income in 1989, just before its slump began; it is now down to #14. China, with ten times as many people, has almost the same total GDP and will soon surpass Japan. | The DPJ has promised massive spending programs will cost 16.8 trillion yen ($177 billion) annually when they are fully operational in 2013. That is a huge burden for a country that has a large and rapidly growing fiscal deficit caused by stimulus packages and bailouts that never seem to work. Japan's national debt has soared to nearly 190% of its annual GDP (gross domestic product). The nation was ranked #4 in the world in per capita income in 1989, just before its slump began; it is now down to #14. China, with ten times as many people, has almost the same total GDP and will soon surpass Japan. |