agman
Well-known member
I made a verbatim copy of the accounting equation used by the government to calculate savings as it is reported in most news stories. Please note that this process has little bearing to our actual savings rate in this country as I have previously indicated. As previously mentioned, items such as IRA's and 401K's contributions which are pre-tax are excluded as are many other savings. Thus, as virtually every economist will agree the aforementioned process of measuring savings severely understates our ACTUAL savings rate.
Personal Income and Its Distribution:
Compensation of employees, received
Wages and Salary disbursements
Private industries
Goods producing industries
Manufacturing
Service producing industries
Trade, transportation and utilities
Other service producing industries
Government
Supplements to wages and salaries
Proprietors' income with IVA and CCAdj.
Farm
Nonfarm
Rental income of persons with CCAdj.
Personal income receipts on assets
Personal income
Personal dividend income
Personal current transfer receipts
Less: contributions for government and social insurance
Equals: Personal income
Less: Personal current taxes
Equals: Disposable personal income
Less: Personal Outlays
Equals: Personal savings
Personal Income and Its Distribution:
Compensation of employees, received
Wages and Salary disbursements
Private industries
Goods producing industries
Manufacturing
Service producing industries
Trade, transportation and utilities
Other service producing industries
Government
Supplements to wages and salaries
Proprietors' income with IVA and CCAdj.
Farm
Nonfarm
Rental income of persons with CCAdj.
Personal income receipts on assets
Personal income
Personal dividend income
Personal current transfer receipts
Less: contributions for government and social insurance
Equals: Personal income
Less: Personal current taxes
Equals: Disposable personal income
Less: Personal Outlays
Equals: Personal savings