
The project is called teigaku kyufukin...
With 2.4 trillion yen (about US$20 billion), they decided to divvy it up and give everyone (including foreign residents)....12,000 yen (about US$120). If you are under the age of 18 or 65 or older you will receive an additional 8000 yen (about US$80).
Now while I will not refuse this gesture, I think they exaggerate how this money will help the economy.
Namely, the letter I received from our city office had me rolling my eyes..."The Japanese government will provide the benefits in order to support the people's life."
WT??
I mean, how can $120 "support someone's life"? Maybe for a meal or two, but definitely nothing long term.
Sadly, people who need the money the most will not receive it. Homeless people are not eligible unless they have a registered address, which excludes public parks.
Also victims of domestic violence are ineligible unless they can take their names off of their spouse's family registry (the forms to submit for this surplus are apparently only being sent to the head of the house.)
The media polled the public and most felt that the money should be used for other purposes such as medical care or the pension system. Most people that were interviewed on television put it into their savings...
Satoshi says he will put his into his savings...me, I'm gonna spend mine!
UPDATE: 6/19/09: I changed the yen into dollars and spent it in Hawaii.