I'm not discounting in terms of "this didn't matter", because obviously it did. Folks with savings have the ability to do things that folks lacking savings do not.
I'm discounting relative to the effect of government shrinkage because I think it was probably several orders of magnitude more important.
When you say "several orders of magnitude" do you mean "100 times more important" as quantified by some statistics, or are you just invoking a turn of phrase?