Word: fiscal
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...September, the DPJ will take over as the official ruling party, with the Diet's election of Hatoyama as Prime Minister and the appointment of ministers. That leaves 100 days for the new administration to draft a budget for the next fiscal year that doesn't increase the national deficit - now at 180% of GDP - but still holds to its costly election-year pledges. If the national budget is not prepared by the end of the year, the green shoots of economic growth could...
...plans to appoint 100 ruling politicians to oversee ministries. In order to transfer more power to the Cabinet - and away from ministry bureaucrats - the DPJ will also replace the Council on Economic and Fiscal Policy, an advisory group to the Prime Minister's office set up in 2001, with a National Strategy Bureau (NSB) reporting to the Prime Minister. The NSB will be key in budget and diplomatic-policy formulation. The DPJ also wants to eliminate amakudari, or descent from heaven, which places retired bureaucrats in plush jobs. "This is a new way of doing business in this country," says...
...model to one that focuses on helping people. They have proposed an expensive array of initiatives: cash handouts to families and farmers, toll-free highways, a higher minimum wage and tax cuts. The estimated bill comes to 16.8 trillion yen ($179 billion) when fully implemented starting in the 2013 fiscal year...
...party has said it plans to cut waste and rely on untapped financial reserves to fund their programs. But with Japan's public debt heading toward 200 percent of gross domestic product, the Democrats plan has been criticized as a financial fantasy that would worsen Japan's precarious fiscal health...
...mailed statement to The Crimson on Saturday, Smith appeared to walk back some of his previous statements that suggested the $143 million budget gap would be closed over the course of two fiscal years...