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Politics : Politics for Pros- moderated
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To: kumar who wrote (118471)6/6/2005 4:06:36 PM
From: Bridge Player  Read Replies (1) of 793928
 
Unfortunately, that comment fails to address the central issue: what is savings?

If the government does not count 401Ks, for example, or IRAs, for whatever reason, and my $5 goes into one of those instead of a passbook savings account as it might have done 40 years ago, I submit to you that the national savings rate may be in fact greater than that calculated by the government.

Oh, and btw (but this is a whole 'nother discussion):

The total Federal budget deficit, both on-budget and off-budget, expressed as a percent of GDP in that year, was lower for fiscal year 2004 than it was in each of the fiscal years from 1975 to 1996, inclusive, and was also lower in 2004 than in 2003.
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