Americans do not culture saving habit and at the end die under a heavy debt of burden. Recent reports from the Commerce Dept. say that the savings of the Americans had nose-dived to minus 0.5 percent last year. This shows that Americans blow their income after tax deductions, thereby bringing down the National Savings to zero.
Negative savings was a phenomenon in 1932 and 1933 and this had been the financial status since the past one year in America. The Americans should learn financial control from the Britons as they have tightened their financial belts this year.
Americans need to tighten-up spendings as savings become negative
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