[allmost]

“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

They 've been issuing debt for a generation now. Their export driven economy has allowed them to continue with no real success. A good textbook example of why our own (US) policies cannot work with a service driven, import oriented base. This is not recent policy for Japan.

[tbw2]

And exporting services fails when demand for services falls with economic slow downs and India can do it remotely more cheaply, too.