credit card debt concerns. To be a result, the federal government borrows heavily just to service debt.Japan wishes to double the five per cent sales tax in two stages by 2015 to help you spend for rising welfare expenditures because the population ages. The country leaders also choose to demonstrate some control over the deficit and curtail further rating downgrades. They also wish to protect against a sell-off of federal government bonds: In late March, foreigners sold a lot more than 2 trillion yen ($25 billion) in Japanese obligations, a person of your biggest outflows considering the fact that the collapse of Lehman Brothers Holdings Inc. in September 2008.But when the government last raised the sales tax to 5 per cent in 1997, a recession followed. Furthermore, the military rise of China in Asia, North Korea nuclear ambitions as well as the planned reduction of U.S. defense expenditures have improved pressure on Japan to boost military spending. At $59 billion in 2011, the defense
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