944.3 billion yen emphasis the new fiscal year budget prefecture, and industrial creation
By: Yomiuri Shimbun
When: February 18, 2014 (their time)
Summary:
On the 17th of February, the budget was proposed for the fiscal year of 2014. This article describes the budget, with details on what is going to be spent, what the budgets plans are to get rid of the national debt, and plans for the generation. The budget was expanded due to an annual 2.4% increase per year, allowing the country to expand their budget. Welfare and health costs are 3.1% higher, which lowers retirement benefits. The buget is trying to repay of dept of 1 trillion 383.7 yen, and with these cuts these cuts will increase the 177.3 billion yen payed back in 2010. But debt climbed to 10 billion yen as said from land development business accounting, by land evaluation criteria. 77 million yen is being spent on the hiroshima Brand Promotion Project, for the for younger generation.
Thoughts/Observations:
My observations on the article immediately is the poorly translated English, which barred most of my understanding of this. But the budget seems very thought out, more so than the US budget in my opinion. The special attention to the future generation is also very interesting, as well as the extreme lengths Japan is willing to go to, such as raising taxes, etc, for the sake of getting rid of the national debt. The article also revealed that Japan is ahead of schedule for repaying their debt, which is very impressive. The increase of yen by 2.4% per year is also incredibly impressive, allowing them to spend their budget like this. I think this is article is very interesting with highlighting the economy of Japan, and the way the government works in regards to their citizens.
Political Life
This article ties directly to political life, because it describes in some detail the annual budget that the government has passed. This is extremely important to politics in this country because it describes what exactly the budget is going to be spent on. This article also gives the chance for the people to reflect on the national budget, and their opinions on what the government should be spending and the things the people are happy about that the goverment is spending.
When: February 18, 2014 (their time)
Summary:
On the 17th of February, the budget was proposed for the fiscal year of 2014. This article describes the budget, with details on what is going to be spent, what the budgets plans are to get rid of the national debt, and plans for the generation. The budget was expanded due to an annual 2.4% increase per year, allowing the country to expand their budget. Welfare and health costs are 3.1% higher, which lowers retirement benefits. The buget is trying to repay of dept of 1 trillion 383.7 yen, and with these cuts these cuts will increase the 177.3 billion yen payed back in 2010. But debt climbed to 10 billion yen as said from land development business accounting, by land evaluation criteria. 77 million yen is being spent on the hiroshima Brand Promotion Project, for the for younger generation.
Thoughts/Observations:
My observations on the article immediately is the poorly translated English, which barred most of my understanding of this. But the budget seems very thought out, more so than the US budget in my opinion. The special attention to the future generation is also very interesting, as well as the extreme lengths Japan is willing to go to, such as raising taxes, etc, for the sake of getting rid of the national debt. The article also revealed that Japan is ahead of schedule for repaying their debt, which is very impressive. The increase of yen by 2.4% per year is also incredibly impressive, allowing them to spend their budget like this. I think this is article is very interesting with highlighting the economy of Japan, and the way the government works in regards to their citizens.
Political Life
This article ties directly to political life, because it describes in some detail the annual budget that the government has passed. This is extremely important to politics in this country because it describes what exactly the budget is going to be spent on. This article also gives the chance for the people to reflect on the national budget, and their opinions on what the government should be spending and the things the people are happy about that the goverment is spending.