Comments on: Harry Reid’s Wakeup Call http://www.oliverwillis.com/2009/02/06/harry-reids-wakeup-call/ Like Kryptonite To Stupid Mon, 23 Nov 2009 01:31:35 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: lib4 http://www.oliverwillis.com/2009/02/06/harry-reids-wakeup-call/#comment-136239 lib4 Fri, 06 Feb 2009 17:37:19 +0000 http://www.oliverwillis.com/?p=12781#comment-136239 hehehehehehehe....you said Lindsay Graham and storking in the same sentence....hehehehehehehehe hehehehehehehe….you said Lindsay Graham and storking in the same sentence….hehehehehehehehe

]]> By: Duros62 http://www.oliverwillis.com/2009/02/06/harry-reids-wakeup-call/#comment-136223 Duros62 Fri, 06 Feb 2009 16:32:21 +0000 http://www.oliverwillis.com/?p=12781#comment-136223 <i>it was not public works but an expensive cleanup of the debt-ridden banking system, </i> Lucky for us, we get to have both, huh? it was not public works but an expensive cleanup of the debt-ridden banking system,

Lucky for us, we get to have both, huh?

]]> By: william http://www.oliverwillis.com/2009/02/06/harry-reids-wakeup-call/#comment-136209 william Fri, 06 Feb 2009 16:11:15 +0000 http://www.oliverwillis.com/?p=12781#comment-136209 This should be Harry's wake-up call - NY Times - February 5 - In total, Japan spent $6.3 trillion on construction-related public investment between 1991 and September of last year, according to the Cabinet Office. The spending peaked in 1995 and remained high until the early 2000s, when it was cut amid growing concerns about ballooning budget deficits. More recently, the governing Liberal Democratic Party has increased spending again to revive the economy and the party’s own flagging popularity. In the end, say economists, it was not public works but an expensive cleanup of the debt-ridden banking system, combined with growing exports to China and the United States, that brought a close to Japan’s Lost Decade. This has led many to conclude that spending did little more than sink Japan deeply into debt, leaving an enormous tax burden for future generations. This should be Harry’s wake-up call –

NY Times – February 5 –

In total, Japan spent $6.3 trillion on construction-related public investment between 1991 and September of last year, according to the Cabinet Office. The spending peaked in 1995 and remained high until the early 2000s, when it was cut amid growing concerns about ballooning budget deficits. More recently, the governing Liberal Democratic Party has increased spending again to revive the economy and the party’s own flagging popularity.

In the end, say economists, it was not public works but an expensive cleanup of the debt-ridden banking system, combined with growing exports to China and the United States, that brought a close to Japan’s Lost Decade. This has led many to conclude that spending did little more than sink Japan deeply into debt, leaving an enormous tax burden for future generations.

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