We Know Where All the Money Is Hiding

Millions of a certain group of Americans are hoarding cash, putting the U.S. economy in a tough spot. Retirees who are usually expected to spend that hard-earned nest egg are instead cutting their spending and living frugally, according to a University of Michigan survey analyzed by software company United Income. The median retiree spends 8 percent less than they comfortably could afford, according to a study published last year in the Journal of Financial Planning. Spending money, besides being a boost for the economy, could help retirees be more active, provided that they physically get out of the house to do it. Meanwhile, younger Americans, whose incomes are falling behind those of previous generations, aren’t saving enough.

The warnings had been coming for months: Don’t anger the intelligence community. That’s what President Donald Trump had been doing when he criticized the CIA and FBI over leaks and accusations that Russia had interfered in the U.S. election. Now the president is suffering what’s arguably the worst week of his presidency, dealing with damaging stories about his meetings with Russian officials and former FBI director James Comey. The allegations came from current and former U.S. officials, including those in U.S. counterterrorism and associates of Comey.