Remember the days when Japan was the economic engine that we envied? In the last 5 years Japan's economic growth has averaged just less than zero.All attempts to boost economic growth have failed.In the mid 1980's Japan had a real estate bubble and in the last 30 years economic growth has averaged just one half percent.Sound familiar?
So why has the second or third largest economy in the world been stuck with no economic growth? The national debt in Japan is close to 200% of the economy, ours right now is 94% and rapidly increasing.
Lesson learned. We will be stuck with no growth for years unless we get our debt under control right now. The longer we wait, the worse it will be. No politician ,in office or running for office has a serious plan to do so.It will be painful for everyone and we all have to sacrifice. If not our future looks grim . http://www.usgovernmentspending.com/federal_debt_chart.html#copypaste