National debt hits record high

[ChineseTiger1986]

Jiji Press

Japan’s national debt totaled a record-high ¥1.02 quadrillion as of the end of March, up ¥33.36 trillion from a year earlier, the Finance Ministry said.

The central government debt, which increased ¥7.01 trillion from the end of December last year, kept rising mainly due to ballooning social security costs in line with the aging of the population.

The balance of government bonds, financing bills and other borrowing crossed the ¥1 quadrillion line for the first time ever at the end of June 2013.

The national debt stood at ¥8.06 million per capita, based on an estimated population of 127.14 million as of April 1.

Finance Minister Taro Aso said the situation has become “very severe” because of slow progress in fiscal reforms.

Of the debt, general government bonds increased ¥38.86 trillion from a year earlier to ¥743.87 trillion. Financing bills, used to procure funds for currency market intervention, totaled ¥115.69 trillion, up ¥420.8 billion.

But fiscal investment and loan program bonds, used to raise funds for loans to government affiliates, decreased ¥5.05 trillion to ¥104.21 trillion.

Long-term debt, excluding fiscal investment and loan bonds, financing bills and others, totaled ¥770.4 trillion.

National debt hits record high - The Japan News

 

[senheiser]

well its mostly debt hold by Japanese not foreigners, also they have still 1 trillion dollar reserves lent to uncle sam

 

[ChineseTiger1986]

well its mostly debt hold by Japanese not foreigners, also they have still 1 trillion dollar reserves lent to uncle sam

The Japanese government just keeps milking its own people to fund their war machine.

 

[Sam1980]

The Japanese government just keeps milking its own people to fund their war machine.

You know, Japanese are usually a "close-fisted" people. So they save their money more than they should. And this is the reason for the Deflation and hence the Recession of Japan's economy. They're not starving or anything.

If Japanese were spending like Americans, they would become the world's number one economy. But consumerism is not a dominant part of their culture.

 

[NiceGuy]

The Japanese government just keeps milking its own people to fund their war machine.

Same thing happen to China Govt. in the disputed zone, but poor Chinese r so scared of China melamin milk and they dont believe the Gov.t can protect them from terrorist, so now, they stand up and strike against China Govt. every where

 

[cirr]

After 25 years of economic stagnation，everything in Japan is becoming bloody cheap。

 

[Kolaps]

It's a debt on the book only.

No real impact practically.

It's like I have a huge debt to myself.

 

[TaiShang]

You know, Japanese are usually a "close-fisted" people. So they save their money more than they should. And this is the reason for the Deflation and hence the Recession of Japan's economy. They're not starving or anything.

If Japanese were spending like Americans, they would become the world's number one economy. But consumerism is not a dominant part of their culture.

Gross national savings: China-Japan comparison (2013est), CIA the World Factbook

China, 49% of the GDP

Japan, 20.10% of the GDP

 

[Lux de Veritas]

You guys need to be aware that when government owns her people debt, they will have ZERO risk at all. Reason being, government is always a robber and when the times come, they will default. Japan government debt is own to her people.

When a government own $ to Goldman Sachs or USA, government are in trouble. Government NEED to pay.

Singapore public debt per capita is among the highest in the world. It is in the form of force saving--30% of our salary. Today, all of us know our government is using inflation of wipe out the debt.

And to those who believe in "force savings by government", wake up. When government see monies, they will TAKE it. There is no such things as force saving, only daylight robbery.

Japan government has no risk at all.

 

[gambit]

The Japanese government just keeps milking its own people to fund their war machine.

That is hilarious considering the Chinese government uses the savings of the Chinese people to fund China's own war machine.

 

[ChineseTiger1986]

That is hilarious considering the Chinese government uses the savings of the Chinese people to fund China's own war machine.

Yeah, 2% of GDP compared to 4% of GDP, are you serious?