A brief review of debt and savings rates since 1960 shows the correlation. From 1960 to 1990, according to the Federal Reserve, the growth of nonfinancial debt exceeded that of nominal GDP by 1.5 times on average, while the savings rate averaged 9% per year. From 1991 to 2000, debt exceeded the growth of GDP by 1.8 times, while the savings rate averaged 4.7%. Since 2001, debt has grown twice as fast as GDP, while the savings rate has averaged a mere 1.4%. The lesson is clear: If the savings rate is to return to healthy levels, we must put an end to the reckless creation of debt.