Riding a tide of federal red ink
It's no secret what the average American family does when income drops: It spends less and saves more. In fact, we've seen just that during these past two recessionary years. The personal saving rate, barely 1 percent of income in the first quarter of 2008, reached 5 percent last year and remains above 3 percent.
Are you a newspaper subscriber but you don't have a Digital Access account yet? Activate your account.
You will need your subscription account number and phone number. Not sure if you have an account? Email us or call (218) 333-9200 and we can help you.