Why?
Household income is stagnant, the job market is dismal, the tax system discourages saving, and it’s still relatively easy for the poor to borrow money.
The debate here is worthwhile: Four Reasons Why Americans Aren’t Saving Money. It’s easy to take a Puritanical stance and say people should try harder. There is some truth in that. But if the above four reasons were relaxed, people would save more.
Smart People I Know 