Chart of the Week: Savings as a % of Disposable Personal Income

Monday, August 29, 2005 | 02:09 PM

The U.S. savings rate has plummeted since 1980, from over 10% to under 1%.

Savings as a % of Disposable Personal Income
click for larger chart

Debt_aug_2005_1

Source: Detroit News

AP reports that “every American man, woman and child” owes $145,000. That is the cost of the long-term promises the U.S. government has made to creditors, retirees, veterans and the poor. That doesn’t include “credit card bills, mortgages -- all the debt we've racked up personally.

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Quote of the Day:

"All progress is based upon a universal innate desire on the part of every organism to live beyond its income."
-Samuel Butler

Monday, August 29, 2005 | 02:09 PM | Permalink | Comments (5) | TrackBack (0)
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Comments

That number has to be viewed in light of the fact that the government can break promises to old people, veterans, and the poor without hurting its credit rating. All it takes is the right number of votes.

Posted by: royce | Aug 29, 2005 3:55:52 PM

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