In general, federal deficits measured on a NIPA basis represent dissaving-they subtract from national saving by absorbing nonfederal funds that otherwise would be used for investment.
There is a complex formula for looking for investments that use non-federal funds. 
mnli hypothesis: There is a complex formula for looking for investments that use non-federal funds.  premise: In general, federal deficits measured on a NIPA basis represent dissaving-they subtract from national saving by absorbing nonfederal funds that otherwise would be used for investment.