The Tax and Social Safety Net Reform Bill: Sooner, Rather Than Later

It looks like Noda and Tanigaki, with Yamguchi (the Komeito guy) as chaperone, kissed and made up well before 9 PM so that they could go home, grab a beer, and watch Kaoru Icho begin her quest for a third straight women’s wrestling gold medal. (Japanese women’s wrestling is what Japanese men’s judo used to be, it appears.) The deal is to

a) pass the tax and social safety net reform bill expeditiously and
b) see the people’s confidence soon after.

As a taxpayer, I say, what took you guys so long? As an analyst, I think, I should have stuck with my first call instead of getting caught up in the volatility. Oh well, no big deal, it’s only about the timing here. And it’s still the deficit bond authorization bill providing the LDP and Komeito with crucial leverage.