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Another Penny Saved: The Economic Benefits of Higher US Saving
In the United States, the personal saving rate (saving as a percentage of disposable income) is just 3.8%—considerably below the high of 13% reached in the early 1970s. In Another Penny Saved, just released by Oxford Economics in cooperation with our sponsors, we examine how the US can lift its long-run economic growth rate, reduce the risk of future burdens on the taxpayer, and create more sustainable growth by increasing this rate.