Research Report Net National Saving
Peter Orszag
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Net Savingthat is, saving after subtracting depreciation on existing physical assetsis a key determinant of long-term economic growth. Higher levels of net saving increase the accumulation of capital by Americans, and thereby raise future national income. In 2003, net national saving amounted to 1.8 percent of net national product (NNP), the lowest share since 1934.