Savings Rate Goes Negative
SAVINGS RATE AT LOWEST LEVEL SINCE DEPTHS OF GREAT DEPRESSION IN 1933
(AP) – Americans' personal savings rate dipped into negative territory in 2005, something that hasn't happened since the Great Depression. 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.
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