The U.S. savings rate has plummeted since 1980, from over
10% to under 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.”
Quote of the Day:
"All progress is based upon a
universal innate desire on the part of every organism to live beyond its
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.