The Japanese Government is mulling over the extension of the special exception law on deficit bonds for another five years. This decision comes as a measure to tackle the financial difficulties amidst the global economic downturn. The special exception law allows the government to issue deficit-covering bonds, providing a flexible approach to deal with economic stress.

In Japan, the issue of government debt is taken quite seriously as the country has one of the highest public debt ratios globally. The public appreciates transparency in government decisions related to fiscal policies. The Japanese public demonstrates patience and understanding, as austerity measures have been implemented and raised taxes to curb the country's debt.

In contrast, the handling of such issues in the US or EU varies. While both regions also issue government bonds, the reliance on debt financing is differently viewed. In the US, the debt ceiling has been a controversial topic, with some believing in endless borrowing power, while in the EU strict regulations are in place to minimize deficits.