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Well, the U.S. is running a current account deficit; we are creating lots of investment opportunities in the United States that exceed our own domestic savings rates, so the issue here is to encourage higher savings rates in the United States.

We promote domestic savings by also things like the personal accounts associated with the president's Social Security initiative, which over time would generate more savings.

We want to develop innovative ways to promote savings so more Americans can save for their future, but first we need to reject privatization schemes and work together to strengthen Social Security.

This is a simple change that will provide a huge financial boost for many Americans, particularly low- to moderate-income families. It is an important step in making sure we do everything we can to encourage all Americans to save and plan for the future.

Anything that we can do to raise personal savings is very much in the interest of this country.

With our national savings rate well below one-percent, it is imperative that the government embrace innovative and cost-effective means of boosting personal savings.

Savings is an important tool because it can help the poor deal with the ups and downs of irregular earnings and help them build reserves for a rainy day.

We ought to be incentivizing people to save more of their own money for use taking care of their healthcare expenses, and what we have done is we have set it up where health savings accounts are harder and harder to use for narrower and narrower purposes.

We have to define and put into practice a better, more coherent and effective policy on income security.

I agree that we must expand opportunities for retirement saving, but we must not undermine this worthy effort with a flawed privatization scheme that takes the 'security' out of Social Security.