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Content: This national bond is called renewal national bond. As a result of issuing these bonds, the debt is not actually repaid, and the amount of bonds issued continued to grow. Japan has continued to issue bonds to cover the debt since the asset price bubble collapse. There was the phase that opportunity to act austerity policy rose when the fear for return (repayment) principal of interest was close-upped at any trouble happened. But, the policy was acted, that was the inadequate fiscal action by the government and bring finance under control by the Bank of Japan, when critical recession caused by austerity policy and others. There was the opinion that suggested a fear for general situation of the economic structure, that the Japanese economy experienced deflation caused by globalizationand the growing international competition. [ 20][21]These factors steered the direction of Japanese economic policy, hence, the perceived harmful impact to the economic strength of the country. With the above-mentioned view point from the mobilizing of finances by the government or the action to monetary squeeze by the BOJ, or, from the view point that it has been deflation recession caused by long termed low demand, there are criticisms that it also cause an effect hurt power of economy the tend to promote structural reform  [jp]increase efficiency of supply side. On the other hand, there are following suggestions for that criticisms: Paul Krugmansuggested that the opportunity costof investmenthas been greater than the ROI,[22]and that the quantitative easingpolicy has not been effective.