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Our Savings Crisis Must Be Solved

What should Congress do to ensure private retirement security?

By Sen. Benjamin Cardin
Special to Roll Call
Feb. 12, 2007, 3:32 p.m.

We have a savings crisis in this country. We aren’t saving enough as individuals, and we aren’t saving enough as a society. A little more than a decade ago, the personal savings as a percentage of disposable income was nearly 9 percent. Our personal savings rate went negative in 2005, almost reaching negative 2 percent in the third quarter of the year.

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February 9, 2012

Rep. Michele Bachmann, who recently suspended her campaign for the presidency, speaks at the 2012 Conservative Political Action Conference in Washington, D.C., on Feb. 9.

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