The economy is weak, but the Bank of Japan (BOJ) cannot make monetary policy much more expansionary than it already is. And, while fiscal stimulus is called for in the short run, the long-term outlook for Japan’s public finances is deeply troublesome, owing to the huge debts run up in the past.
今天，日本的财政问题跟美国以及其他许多国家类似。经济疲软，但日本央行（BOJ）已无法使货币政策比当前更加宽松了。与此同时，尽管短期内实施了财政刺激，但由于过去留下的巨额债务，日本公共财政的长期前景依然麻烦重重。