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Individuals Savings At Highest Level Since War II
New York AP reports personal savings to disposable income at an 84 percent rate, a 25 year high. Despite high saving figures, many Americans feel cash tight as disposable income nears $740 billion with $62 billion saved. The piece notes the discrepancy between high savings and perceived limits on spending, highlighting undercounted forms of savings and shifting income dynamics. It cites a Fed study and University of Michigan data showing 47 percent of families saved in 1951 vs 62 percent now, and mentions stock ownership growth and proposed administration measures to loosen savings effects on demand.
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