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Chinese officials take the opposite tack, promising to encourage more consumption and less saving.
But how best to rebalance the economy: through less saving or more investment?
That means sacking more people, as each junior makes less saving.
Once the economy recovers, Americans revert to more spending and less saving.
South Koreans rallied to help their nation, spending less, saving more and learning to be more competitive.
Mr. Obama would wipe out income taxes for older Americans earning $50,000 or less, saving some 7 million households an average of $1,400 apiece.
Similar(44)
Spend less, save more.
That solidarity more or less saved my life.
Nor did Thatcher deliver economic success, still less "save our country" in David Cameron's silly and overblown phrase-mongering.
The diminishment was inevitable: you got older, worked less, saved less, got deeper into a hole that was harder to climb out of.
Broadly speaking, governments have to keep budget deficits at 3% of GDP or less, save in "exceptional circumstances"—meaning an annual fall in GDP of 2% or more.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com