[Impy]

Reuters: “fiscally conservative Finance Minister Naoto Kan threw his hat in the ring”

Another article says how the “fiscal conservative” Naoto Kan is pushing for a tax hike.

[TigerLikesRooster]

'Fiscally conservative' just means willingness to reduce deficit(or debt.) Japanese leadership and bureaucracy are not known for decisiveness. The will take the path of least resistance. Japanese debt situation is getting totally out of control. They only have 'nuclear options.' Drastic tax-hike or drastic spending cuts, coupled with bankruptcies of some major banks.

I think they will raise some taxes while cutting some spending. Not enough to make a real dent, though. They are screwed. However, so are many other developed countries. It is just that Japan went into this downward spiral about two decades ahead of others. Japan managed to hold out for two decades. Other countries won't last that long.

[GeronL]

They have a different idea of “fiscal conservatism” than we do, I guess