Japanese PM Proposes Record Budget, Exacerbating Japan Debt Burden

Prime Minister Yukio Hatoyama unveiled a record budget of 92.3 trillion yen ($1 trillion) aimed at increasing the wealth of Japanese households and reducing the economy’s reliance on exports. The budget reflects his campaign promise to address economic stagnation by lifting the spending power of the nation’s households. Economists have criticized the plans for deepening concerns about the nation’s indebtedness and failing to address regulatory constraints on businesses.

Bloomberg

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