It will also require a cut in our budget deficit and a higher rate of American saving relative to investment.

Having failed to generate American savings and capital, it borrowed abroad.

The frittering away of American savings wasn't intentional.

In a typical American savings account paying 2.5 percent, the balance doubles in less than 30 years.

To give a sense of the dimensions of the crash, the American savings and loan crisis may end up costing about $350 billion.

It might raise American savings, but it could have other effects, as well.

American savings are far lower than required, lower than all major nations.

In life-cycle theory, the accumulated American savings should be spent soon by the baby boomers now approaching old age.

A similar crisis of non-performing loans paralyzed the American savings and loan industry in the 1980's.

Then, the adjustment in American savings might happen involuntarily.