Tuesday, July 23, 2013

Personal savings collapse. Thanks President Obama!

3 comments:

Matt Franko said...

So looks like the end of the payroll tax holiday may have just prevented people from saving this year as former savings are now taxed away...

Savings are a "demand leakage" anyway.... so we still end up with positive (barely) GDP growth...

rsp,

mike norman said...

If private sector personal savings (private sector surpluses) are the "flip side" the government's "dis-saving" (gov't deficit), then it's pretty clear that the reduction in the government's deficit caused the private sector's surplus to fall.

Unknown said...

I love this piece on President Obama by the late Alexander Cockburn: http://www.counterpunch.org/2011/08/05/ready-to-vote-for-mitt-romney/