In this Figure, Japan is in so much debt, I have to pause how many zeros there are in a trillion. The country is spending much more than how much money it creates. As I understand, the debt is 170% of the GDP of Japan. In simpler terms, if a person makes $100 income per year, he actually spends $170.
With the declining population growth, less manpower for the generations to come, and vast amounts of money to spend for internal and external affairs, the Japanese government, its people, taxpayers, and all are in a great challenge. That is why I hope that those who will benefit from the extra monetary support that the government will lend should put them into good use. I rephrase my closing remarks yesterday, please do not kill the chicken that lays the golden egg.
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The national debt of countries represents how much money the government of that country owes. Like a household budget, national debt gets larger when a government spends more than it takes in. This can continue for years, or even decades. This budget deficit is the total amount of this debt that has grown over time, with interest charged adding significantly to the amount owed by the government.
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