Tuesday, May 4, 2010

Punishing Savers, Again - Hit & Run : Reason Magazine

Punishing Savers, Again - Hit & Run : Reason Magazine: "When President Obama took office, the personal savings rate for Americans was an anemic-but-getting-healthier 5 percent. That number peaked a year ago, and is now down to 2.8 percent. This drop is even more striking when you consider that asset prices have, until the beginning of this year, been dropping or flat almost across the board."

For some reason they don't even mention the fact that there are a lot of people out of work or underemployed and living off of savings.