the QE that Bernanke is implementing has nothing to do with running up more debt or spending more money. So comparison to Japan doesn’t hold.
Increasing the money supply ... to offset the decrease in money supply over the past 2+ years due to the “hoard cash” mentality that has developed.
If we are not in a deflation, then the critics have a point. And there are others who argue that it is best to let the deflation run its course. I do not agree.
Europe is less concerned about a deflation because they have always dealt with their unemployment by sending foreign workers home.
Both have failed; leaders in both nations clamor for more of the same.
Draw your own conclusion on the results.