--- title: "Meaning & Key Takeaway of: In several quarters in the 2000s, if you…" description: "\"In several quarters in the 2000s, if you added up all the private savings of everyone in the United States, it was less than nothing. You can't sustain..." image: "https://sms4smile.com/quotes/i/6fe/austan-goolsbee-9855_driver_in-several-quarters-in-the-2000s-if-you_3060993.jpg" --- # In several quarters in the 2000s, if you added up all the… ![“In several quarters in the 2000s, if you added up all the private savings of everyone in the United States, it was less than nothing. You can't sustain that as a driver of growth.” quote by Austan Goolsbee](https://sms4smile.com/quotes/i/6fe/austan-goolsbee-9855_driver_in-several-quarters-in-the-2000s-if-you_3060993.jpg) [Download](https://sms4smile.com/quotes/i/6fe/austan-goolsbee-9855_driver_in-several-quarters-in-the-2000s-if-you_3060993.jpg) [Open image](https://sms4smile.com/quotes/i/6fe/austan-goolsbee-9855_driver_in-several-quarters-in-the-2000s-if-you_3060993.jpg) > “In several quarters in the 2000s, if you added up all the private savings of everyone in the United States, it was less than nothing. You can't sustain that as a driver of growth.” [Austan Goolsbee](https://sms4smile.com/quotes/author/austan-goolsbee/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The speaker points out that total private savings in the U.S. were effectively zero in the 2000s, indicating a lack of domestic demand for growth. **In simple terms:** Zero net private savings hinder economic growth Key Takeaway Address savings and consumption imbalance for growth Themes economics growth private savings policy Mood analytical informative Type economic policy When to use this quote - fiscal policy - monetary policy - economic research Key Concepts macroeconomic stability consumer confidence investment climate Questions to Reflect On - How can policy stimulate private saving and spending? - What role does consumer confidence play in growth? A Different Perspective Savings data may be misinterpreted without context of debt and investment. ★ ★ ★ ★ ★ No ratings yet [2000S Added](https://sms4smile.com/quotes/about/2000s-added-5134720/) [Driver](https://sms4smile.com/quotes/about/driver/) [Everyone](https://sms4smile.com/quotes/about/everyone/) [Growth](https://sms4smile.com/quotes/about/growth/) [Less](https://sms4smile.com/quotes/about/less/) [Motivation](https://sms4smile.com/quotes/about/motivation/) [Nothing](https://sms4smile.com/quotes/about/nothing/) [Private Savings](https://sms4smile.com/quotes/about/private-savings-2285537/) [Quarters 2000S](https://sms4smile.com/quotes/about/quarters-2000s-5134718/) [Savings](https://sms4smile.com/quotes/about/savings/) [Savings United](https://sms4smile.com/quotes/about/savings-united-5134719/) ## Related quotes > [As part of Social Security reform, I believe that private savings accounts are a part of it - along the lines that President Bush…](https://sms4smile.com/quotes/john-mccain/as-part-of-social-security-reform-i-believe-that-private-savings/) [John McCain](https://sms4smile.com/quotes/author/john-mccain/) > [The system is not intended as a substitute for private savings, pension plans, and insurance protection. 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