From the 1970s through the mid 1990s, federal deficits consumed a large share of increasingly scarce private saving and reduced the amount of national saving available for investment.
The federal deficit has no impact on available savings.
mnli hypothesis: The federal deficit has no impact on available savings. premise: From the 1970s through the mid 1990s, federal deficits consumed a large share of increasingly scarce private saving and reduced the amount of national saving available for investment.