News From NPR

In the 1980s, Japan appeared to be a world beater — the China of its day. Japanese companies were on a tear, buying up firms in the U.S. and property around the world.

But these days, Japan is considered a cautionary tale for post-industrial economies around the world. The country is facing its fourth recession in what are commonly known as the "lost decades."

Japan's story resonates this holiday season as American politicians try to reach a debt deal.

A the U.S. wages a debate on its gun laws, some Australians are urging Americans to consider their experience.

For Australia, the turning point came on April 28, 1996, when a lone gunman opened fire with a semi-automatic rifle in Port Arthur, a popular tourist destination in the state of Tasmania.

Cathy Gordon was there that day, escorting six visiting musicians as part of her job with the Tasmanian Symphony Orchestra. They were leaving a cafe just as the shooter, Martin Bryant, pulled out an AR-15 assault rifle.

In 10 days, virtually all Americans will be hit with a tax increase and deep government spending cuts will follow shortly behind. That is, unless Congress and President Obama can find a way to avert the "fiscal cliff."

It's not looking very promising at the moment. On Thursday night, House Speaker John Boehner, R-Ohio, pulled the plug on a measure he was calling his "Plan B" and sent his members home for Christmas.