A new frugality: Americans are borrowing less, saving more

  • Article by: SUZANNE ZIEGLER , Star Tribune
  • Updated: July 4, 2009 - 9:55 PM

After a long period of low savings rates, Americans are building up their nest eggs again to weather the economic storm.

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noinkJul. 4, 0910:24 PM

This savings and not spending is something that the Obama administration did not think the Americans would do.

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DrMarkJul. 4, 0911:00 PM

"some economists say this isn't the best time for all Americans to become tightwads." Sorry buy President for life Obama TOLD us only the Government can fix this economy. "We the people" spending has ZERO to do with fixing it. Trillions to the banks, 100's of Billions to grow Gov't and $12 a week to us. So there you have it. Obama has told us who he cares about. And fella's, it aint us!

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memoryleakJul. 4, 0911:22 PM

Bush and Hank Paulson approved all of the 700 billion plus TARP funds back in fall of 08 and handed the first half out with no rules or strings. Then they started the auto bailout using TARP funds in December. I know facts and wingers mix like oil and water but thought I would try again. It was Reagan who misquoted Adams and said "facts are stupid things" instead of "facts are stubborn things" but to a winger either one would work. Reagan also said " "Trees cause more pollution than automobiles do" He was a great communicator but not a great intellect.

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formermarineJul. 5, 0912:14 AM

trying to spend billions on mandatory health coverage (aka reform), buying out car companies and giving them to the unions, sending trillions to the IMF (international monetary fund, which is our tax money going to other countries), and throwing money away on useless stimulus bills (twice)? Was it Bush, or are you ready to acknowledge that Obama is now tanking our economy like nobody ever dreamed possible? Answer please memoryleak.

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lonederangerJul. 5, 09 1:19 AM

I didn't see anything about w, O, or Reagan in this article.

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zaida7Jul. 5, 09 2:16 AM

Four family members and only 1,950 square feet to house them.

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ORIOLE75Jul. 5, 09 5:43 AM

There is no way Americans can possibly save enough to cover what has been lost in declining property values and the stock market.

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thomas281Jul. 5, 09 6:24 AM

the banks need your money to pay those big executive salaries and to cover their bad loans. If they can increase their assets the government wont monitor them as close Give, give give...oops.. I meant save..save..save

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zaelamonJul. 5, 09 8:14 AM

Thriftiness never skipped me. I buy what I need when I need it. I don't always buy what I want. Pay your debts. Live within your means whether you're making minimum wage or many times that. I'm also a supporter of Dave Ramsey. His advice is just common sense, but most people seem to lack that in their lives. Teach your children to be fiscally responsible, and they'll be better prepared than others.

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iceicebaby46Jul. 5, 09 8:28 AM

the rich people or affluent people not spending their hard earned cash in this democratic controlled government. But, then you probably expected the republicans to just keep spending.

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