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National Income and Product Accounts Tables
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Today is: 8/2/01   Last Revised on July 27, 2001  Next Revision August 29, 2001
Table 2.1. Personal Income and Its Disposition
[Billions of dollars]   Seasonally adjusted at annual rates
First Year  Last Year  Annual(A)  Quarterly(Q)
Line      2000   
1Personal income8,104.48,271.08,381.58,519.68,640.28,721.3
2   Wage and salary disbursements4,701.94,798.04,875.84,973.25,049.45,099.3
3      Private industries3,945.54,029.74,103.24,196.64,260.64,300.4
4         Goods-producing industries1,134.11,151.81,173.21,195.51,206.31,205.2
5            Manufacturing808.3822.0838.0852.2853.3850.6
6         Distributive industries1,068.01,086.11,102.41,125.91,140.31,148.0
7         Service industries1,743.41,791.71,827.61,875.21,914.01,947.2
8      Government756.3768.3772.6776.6788.8798.9
9   Other labor income523.7530.1537.9544.9549.3552.1
10   Proprietors' income with inventory valuation and
       capital consumption adjustments
11      Farm26.532.531.631.729.829.3
12      Nonfarm671.0685.4687.6693.5705.4717.9
13   Rental income of persons with capital consumption
14   Personal dividend income361.2373.3385.8396.6404.8411.9
15   Personal interest income980.2999.91,009.21,013.11,010.91,005.7
16   Transfer payments to persons1,046.31,066.31,074.61,089.01,123.11,138.3
17      Old-age, survivors, disability, and health insurance
18      Government unemployment insurance benefits19.619.420.122.122.723.0
19      Veterans benefits25.
20      Other transfer payments398.5403.3408.5415.1422.8429.3
21         Family assistance 1
22         Other380.5385.2390.1396.5403.8410.1
23   Less: Personal contributions for social insurance351.3355.8359.4364.1372.1373.9
24Less: Personal tax and nontax payments1,245.31,277.31,300.21,329.81,345.21,350.4
25Equals: Disposable personal income6,859.16,993.77,081.37,189.87,295.07,371.0
26Less: Personal outlays6,805.76,905.67,026.97,115.17,216.27,283.4
27   Personal consumption expenditures6,581.96,674.96,785.56,871.46,977.67,044.9
28   Interest paid by persons195.4201.8211.3212.9208.5208.3
29   Personal transfer payments to the rest of the world(net)28.429.030.130.830.130.2
30Equals: Personal saving53.588.154.574.778.887.5
     Disposable personal income:  
31      Total, billions of chained (1996) dollars 2 6,431.66,523.76,566.56,634.96,679.06,719.8
        Per capita:  
32         Current dollars24,98725,42625,68226,01326,33526,548
33         Chained (1996) dollars23,43023,71723,81424,00624,11124,202
34      Population (mid-period, millions)274.5275.1275.7276.4277.0277.7
35   Personal saving as a percentage of disposable personal

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Comparison of Personal Saving in the National Income and Product Accounts (NIPAs) with Personal Saving in the Flow of Funds Accounts (FFAs)

What this shows is that no matter which way you measure it, our most creative accountants could not conceal that the US has a NEGATIVE personal savings rate, and has had since 1998 when the FFA's showed a negative 0.8% personal savings rate in the fourth quarter. It was negative all of 2000, reaching a low of -2.7% in the fourth quarter.  It reached a low of -3.2% in the second quarter of 2002, it reached a low of -1.7% in the first quarter of 2005, a low of -1.9% in the fourth quarter of 2006, an all time low of -6.5% in the second quarter of 2007.  The recent claim that our personal savings rate in 2008 was 8.8% was disputed by the NIPA savings rate of 4.4%.  2009 is still being massaged and when they're all done, we all know what will happen--they will suddenly "discover" that they over-estimated it and reduce it back to its traditional, decade-long negative savings rate.

We are the ONLY industrialized nation with a NEGATIVE savings rate.  Japan's is more than 33% and Korea's is more than 38%.

This is not an argument that crime tracks IQ.  It's merely an observation that the French envy us for nothing, not our high crime rate, and especially not our NEGATIVE personal savings rate.