Save That Money You Don't Have
Amazingly enough, that call to defiantly "go shopping" back in 2001 has produced a nation that's broke as a joke:
The Commerce Department reported Monday that the savings rate fell into negative territory at minus 0.5 percent, meaning that Americans not only spent all of their after-tax income last year but had to dip into previous savings or increase borrowing.
The savings rate has been negative for an entire year only twice before -- in 1932 and 1933 -- two years when the country was struggling to cope with the Great Depression, a time of massive business failures and job layoffs...
And it is in this environment that the major domestic initiative is a plan to set aside money for healthcare expenses.
WHAT MONEY?
<< Home