This week is America Saves Week. Since 2007, organizations have dedicated the last week in February to ending the near zero personal savings rate in the United States. Amid the concerns that America’s banks will have to be nationalized because they didn’t lend wisely, it is probably also a great week to celebrate the FDIC protection of personal bank accounts. The week is rolling already, as the economic crisis has jumpstarted savings in a way that the first two annual America Saves Weeks could not: the savings rate in the last three months of 2008 was the highest since 2001.

The timing of America Saves Week is interesting, to say the least. Two weeks ago, CNN Money ran on article on why saving is killing the economy. The federal government has just passed a massive economic stimulus package in order to make up for cutbacks in business spending. The national debt is growing at an enormous rate. And last year, the government sent out stimulus checks so that Americans could spend that money on goods and services.