Emphasis Preaching Journal
Americans are now approaching a...
Illustration
Americans are now approaching a 0% saving rate, meaning that we are overspending and
undersaving. Economists tell us that we are unwilling to accept a short-term sacrifice in
order to obtain long-term rewards. In other words, we want instant gratification, all the
while hoping that things will work out in the long term. Thus, our credit card debt has
become unmanageable, we buy houses we cannot afford, and we do not put away for
rainy days or retirement.
