News Summary: Japan seeks boost from stimulus

The Associated Press
January 11, 2013

NEW STIMULUS: Japan's newly installed prime minister Shinzo Abe on Friday announced a 20 trillion yen ($224 billion) stimulus package in a bid to give the recession-struck economy a quick boost.

QUICK BOOST: The "Abenomics" strategy of "ultra" monetary easing and hefty government spending is aimed at lifting the sagging economy, perhaps even before a July election for the upper house of parliament that is viewed as a key test for the ruling Liberal Democrats.

RISKS INVOLVED: But some economists cite the risk of the stimulus adding to the country's gargantuan debt without fostering sustainable, long-term growth.