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Politics : PRESIDENT GEORGE W. BUSH
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To: Zoltan! who wrote (130823)3/8/2001 12:43:25 PM
From: DMaA  Read Replies (1) of 769667
 
Japanese minister admits profligate government spending has brought economy to brink of collapse:

TOKYO (AP) -- Japan's finance minister said Thursday that the burgeoning public debt has pushed the nation's finances to the verge of collapse.

Kiichi Miyazawa's remarks in Parliament amounted to a public admission that the government can no longer afford attempts to spend itself out of an economic slump that is deepening again after some signs of recovery.

Japan's finances are ``very close to collapsing,'' Miyazawa said.

nytimes.com
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