Anybody worried about this? I posted in bonddad's diary and got not a response.
Savings rate at lowest level since 1933
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 this chart, while from 2001- has only gotten worse since then, thanks in large part to the Bush tax cuts.
Here's the trend since 1959