A nation of spendthrifts? An analysis of trends in personal and gross saving

Peach, Richard; Steindel, Charles

Journal Article

A nation of spendthrifts? An analysis of trends in personal and gross saving

Abstract: The steep drop in the U.S. personal saving rate over the last decade has fueled speculation that Americans are spending recklessly. But alternative measures of personal saving show that households are actually setting aside a larger share of their resources than the official figures suggest. In addition, government saving has risen markedly, leading to an increase in overall domestic saving that has helped finance a surge in U.S. investment.

Keywords: Saving and investment; Finance, Personal;