Use of Credit and Savings Rate
The United States has the lowest savings rate of any developed nation. This low savings rate is offset by the high use of credit.
Read more about this topic: Economic Issues In The United States
Famous quotes containing the words credit and/or rate:
“My credit now stands on such slippery ground
That one of two bad ways you must conceit me,
Either a coward or a flatterer.”
—William Shakespeare (1564–1616)
“I don’t know but a book in a man’s brain is better off than a book bound in calf—at any rate it is safer from criticism. And taking a book off the brain, is akin to the ticklish & dangerous business of taking an old painting off a panel—you have to scrape off the whole brain in order to get at it with due safety—& even then, the painting may not be worth the trouble.”
—Herman Melville (1819–1891)