Skip to comments.Land of Rising Debt: Falling Tax Revenue Forces Japan to Sell More Bonds
Posted on 10/25/2009 9:35:56 AM PDT by TigerLikesRooster
Land of Rising Debt: Falling Tax Revenue Forces Japan to Sell More Bonds
By Bob Blandeburgo
Japans government will have to sell more bonds and grow the countrys record debt in the face of declining tax receipts.
The central governments tax revenue may fall below $442 billion (40 trillion yen) considerably less than the $439 billion (46 trillion yen) forecast a year ago, Japanese Finance Minister Hirohisa Fujii told The Wall Street Journal.
This is due to the global recession that began last year, and we will deal with this through the additional issuance of government securities, Fujii said, suggesting in a report published in The New York Times that bond issuance for the current fiscal year could be 50 trillion yen roughly $550 billion or higher.
(Excerpt) Read more at moneymorning.com ...
Foreign exchange rate problems with the math?
Don't cut spending, raise taxes!
Like that ever fixed anything.
Here we are in the same situation.
Aren’t these the guys who are supposed to be buying our bonds?
Who’s buying theirs?
And exporting services fails when demand for services falls with economic slow downs and India can do it remotely more cheaply, too.
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