Should the Democratic Party of Japan put forth an economic plan?
It can learn from the People's New Party because the DPJ ally has produced an excellent economic proposal.
The People's New Party has recommended a route for escaping this economic crisis: Five years of concentrated fiscal expenditure to the tune of about 40 trillion yen (or 8% of Japan's GDP) to stabilize economic growth and raise tax revenue.
The DPJ should strike an agreement with the People's New Party and adopt this emergency proposal as its own.
The People's New Party budget proposal consists of 11.1 trillion yen of direct fiscal spending in reduced taxes and 34.5 trillion yen in public works aimed at the nation's future. The direct fiscal spending would establish a better safety net, invest in energy, the environment, reviving the provinces and food.
This is the best proposal put out by any political party so far. The DPJ should make every effort to keep it alive.
The author of Curing Japan's America Addiction (Chin Music Press) offers insight and commentary from Tokyo.
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