Americans savings rate versus U.S government savings rate
Americans boosted their savings rate to 6.1% in 2009. But as the economy has mended, our inclination to save has waned, reaching just 4.5% last year.
The CBO, a nonpartisan agency that advises Congress on budget policy, forecast deficit for the 2014 is $492 billion, or $23 billion less than it estimated two months ago. That's equivalent to 2.8% of gross domestic product, marking the smallest deficit since 2007. Since 1980, the deficit has averaged roughly 3.2% of GDP.
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