Questions of economic parallels between US 2010 and Japan 1990?

Now, the news media is telling us that deficit spending to stimulate the economy might not work after all:

Both Japan, beginning in the 1990s, and the U.S., in the most recent economic crisis, had credit and housing bubbles and both engaged in huge amounts of overborrowing leading up to sharp economic downturns. And both used historically low interest rates and government stimulus spending to try to lift their economies out of the ditch — with questionable results in Japan.

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