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" ... Notwithstanding the scheduled slight increase in the consumption tax next year, the Abe government has shown negligible real interest in and has been mostly paying lip service to fiscal discipline, taking no actions that would begin to deal effectively with Japan’s massive and rising national debt. William Pesek writing in Barron’s on January 9, cites an OECD forecast that Japan’s current 250% debt-to-GDP ratio would balloon to 400% by 2040 without reform and notes that “last year Tokyo’s debt hit a high of 1.057 quarillion yen (about $9 trillion).” ... "