Our Low National Saving Rate

Our lack of savings, not only impacts our economy, but also our environment and human spirit.

February 14, 2007

1990s: As Golden Age?: I'm trying to find the great economy everybody was talking about in the 1990s...

Clean Gene is Dead: Some passing memories on the death of Euegene McCarthy.

Clinton in Coxscakie: Hillary came to town to ralley Democrats around Gillibrand.

Cuomo on the Mohawk: The man from Guy Park Place has yet to decide to run.

Dick Cheney: Shotgun Bandit: What Cheney's shotgun accident means to all Americans, gun owning or not.

Getting Health Insurance: How many desire to get low-cost insurance changed my plans.

Governing with Accountablity: Andrew has two visions on what accountablity is really about.

It's Time to Honor America: Beyond politics, there is a lot to like about America.

NO to Impeachment: Impeaching the President is a waste of time.

Ohio: Updating Neil Yong's lyrics for contemporary events.

On Car Insurance and Autobody Shops: The system that keeps you paying without getting anything in return.

On National ID Cards: Discussing the evil national ID cards.

Our Cowboy President: You don't have to like the President's policies to respect his sense of moral responsiblity.

Poem: Bureaucratic Memorandum: Trying to make sense of the memorandum and corporate decision making process.

Poem: It's 2006: The future seems not to come for man.

Recession: The predicted economic slowdown can be very bad for many.

Respect President Bush: Not agreeing with the President doesn't make him evil.

Senator Paul Wellstone is Dead: Andrew is still shocked at the news of the death of man who was becoming one of the great Senators of the '00s.

The Blackout Blame Game: In continuing my series on blaming the right people, I try to look beyond the hype and mistakes of the media in covering the blackout.

Undocumented Immigrants and Farms: Why the real solution to the illegal immigration is changing how we subsidize our farmers and not criminalizing or legalizing guest workers.

What is the Political?: The neological word I often use for describing aggregated political forces.

Why Modern Politics are Ill: Commentary on the ills of politics, and the need for activism.

Why the Democratic Stimulus Package Works: The proposed tax cuts by Republicans fail to provide adquate stimulus for sectors of the economy that need it the most.

Our Low National Saving Rate

One of the most concerning news stories of recent weeks is our low national savings rate. Last year it was a negative 1.6%. The previous year it was negative 1%. This year's rate is the lowest in over 70 years.

For most Americans, that's just another financial figure that goes in one ear and out the other. For some it's not surprising, as they know first hand the impact of our mounting debt on their finances. They know what it feels like to be beholden to the bank.

Yet, for those who have a real understanding of this figure it's pretty scary. It means we are spending more then we have money coming in. And a lot of that debt is not going to things that are improving us or building our country. It's one thing to be borrowing money to get an education or buy an house or pickup truck, it's another to buying more toys then you really need.

There is a lot of evidence that we are buying more toys then we need. We are too often sold consumerism and become blind to our own means or the costs of our consumption. Indeed, the personal financial transaction is minor compared to all the stuff we are amassing as individuals.

All those material possessions had to come from somewhere. They involved the exploitation of some material whether close or far away from us. They may have or may not have brought money into the local community. More likely then not, these days, they didn't. And then they have to go somewheres.

There is no problem with making investments into the future. Likewise, there is no problem with purchasing material goods. But we need to be reasonable at what we buy and realize that there is only so much we really need. We need to focus more on ourselves and our communities, and stop buying things.

Endless
From the Point Au Rouche Series. Added 4/5/06.