Summary
WASHINGTON - Americans are spending everything they're making and more, pushing the national savings rate to the lowest point since the Great Depression.
Soaring home prices apparently have convinced people they don't have to worry about saving, a belief that could be seriously tested as 78 million Baby Boomers begin to retire.See the full content of this document
Extract
Savings at Lowest Level Since Depression Years
The Commerce Department reported Monday that Americans' personal savings fell into negative territory at minus 0.5 percent last year. That means that people not only s...
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