It didn’t work for Japan, so why will it work for us?
Another “stimulus” bill is about to be passed, and once again I find myself wondering why they don’t just give every tax payer in America a 4-6 thousand dollar bonus on their tax returns this year. That would likely do more to help the little people then a law laced with things like a government healthcare plan that lays the foundation for government controlled “Universal healthcare” that will instruct your doctor as to weather or not you’re worth charging your insurance company for a much needed procedure. Not to mention it would give the money to the people who’s children are going to have to eventually pay it back one way or another.
“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.”