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Americans' Negative Savings Rate | Add Comment

    • Left out a major point 3/8/2008
    The blame for everything economic is repeatedly placed on average Americans, so I thank you for at least trying to convey the truth in this article. At least you mentioned outsourcing. Banks and government would rather say we are all overspenders and it's all our fault. Yet, what wasn't mentioned is health care costs. If the average American gets a major illness once in their life, such as I did, any savings they did manage to eek out in this dismal economy will be wiped out. Even if the economy is good, it will wipe it out. I cannot save. Cancer and the American health care system has taken a quarter of my income for the past two years - and I have health insurance! I manage to save in a 401K but any additional savings is impossible. I make a good salary but spend most of it paying hospital bills - to keep them off my credit report. Most poor credit scores and bankruptcies come from medical expenses - yet reading the news, one would think they all come from buying cars or shopping at Macys. Health care has gone up astronmically while salaries are the same as 1999. Something in this country has to give.

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