Negative National Savings Rate
For only the third time in documented American history, the national savings rate was NEGATIVE last year. The other two times were 1932 and 1933 which were explained in the article as "repercussions of the Great Depression".
Try to imagine, for a second, that Social Security will be insufficient for anyone under Baby Boomer age and that the vogue idea in national retirement funding has been to allow Americans the ability to manage their own savings. It certainly should be interesting, huh?
Posted by languorous at March 8, 2006 11:07 AM