Japan Unveils Record Budget To Combat Recession
TOKYO: Japan’s government Wednesday approved a record high budget, vowing to take “unprecedented” action to weather a painful recession which it expected would only get worse in the new year. The cabinet sent to parliament an 88.55 trillion yen (980 billion dollar) budget for the year from April 2009 that covers tax cuts and cash rebates but slashes foreign aid and worsens an already ballooning debt. “We need to take unprecedented measures when in an extraordinary economic situation,” Aso tol
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Tags: Debt, Government