Transfer payments, household savings play key roles in growing U.S. deficit

Jonathan Davis and Lillian Derr

Dallas Fed Economics from Federal Reserve Bank of Dallas

Abstract: While recent levels of government borrowing have been high, private savings by U.S. residents have been elevated as well. As a result, overall borrowing for the entire U.S economy has been remarkably stable.

Keywords: deficits; payments; savings; U.S. (search for similar items in EconPapers)
Date: 2025-11-18
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Persistent link: https://EconPapers.repec.org/RePEc:fip:d00001:102176

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