More important is the flow of Israel's roughly $4 billion a year in private savings.

His private savings account would make up for the loss.

But the stock market kept rising and people now believe they will get a high return forever on their private savings.

There is simply no proven policy to increase private savings.

The deficit, he said, was cutting into private savings and investment.

In 1992 and 1993, federal deficits absorbed more than half of private saving.

He was earlier the chief executive of a private savings and loan.

Congress can promote private savings in a number of ways.

But even private savings in the 1980s ran well below their 1970s level.

Using internal financing in Germany would have a similar effect on private saving.