In a manner of speaking, we have, as a community, done something like that. The marked rise in the rate of saving by households in 2008 and 2009 has been sustained. Corporations have also increased their saving considerably over the past five years, opting to repay debt and lower their gearing ratios.
Admittedly, government saving has been lower for a time, for countercyclical purposes, though that is now scheduled to rise as well.