An increase in domestic savings and tough Government belt-tightening will have to do the trick, he says.

It said a cut would increase domestic savings and reduce consumer demand, helping to bring down the nation's trade deficit.

Consequently, any kind of economic growth had to be financed by domestic savings.

At the same time, investment grew threefold and domestic savings quintupled.

Italy has high domestic savings (one of the highest rates in the world).

Its emphasis is on financing growth by building domestic savings and encouraging direct foreign investment.

Let's talk about reforming the tax code to encourage domestic savings.

The Government also established a new pension-fund system to encourage domestic savings.

Foreign investors have been filling the slack in domestic savings.

Put simply, the American economy now spends more than it can finance through domestic savings.