Bankruptcy booms among older Americans

Photo: Florian Gaertner/Photothek via Getty Images.

"The rate of people 65 and older filing for bankruptcy is three times what it was in 1991, ... and the same group accounts for a far greater share of all filers," the N.Y. Times' Tara Siegel Bernard reports.

Why it matters: Individuals "are bearing an ever-greater responsibility for their own financial well-being as the social safety net shrinks."

The details: Driving the surge, according to the study from the Consumer Bankruptcy Project, "is a three-decade shift of financial risk from government and employers to individuals."

  • This includes longer waits "for full Social Security benefits, the replacement of employer-provided pensions with 401(k) savings plans and more out-of-pocket spending on health care. Declining incomes, whether in retirement or leading up to it, compound the challenge."

What's next

⚖️ Live updates: Democrats close out their opening arguments

House managers wrapped up their three-day impeachment presentation with a direct appeal to the senators to think about the precedent their actions — or more notably their inaction — would have on democracy and Congress’ future ability to serve as a check on the president.

The close: Rep. Adam Schiff (D-Calif.) anticipated attacks on him, other House managers, the Ukraine whistleblower, and the Bidens from Trump's team, which begins its defense of the president on Saturday. He appealed directly to GOP senators: “Real political courage does not come from disagreement with our opponents, but disagreeing with our friends and our own party.”

Go deeperArrowJan 21, 2020 - Politics

Death toll climbs in coronavirus outbreak

41 people have died from an outbreak of a coronavirus strain that originated in Wuhan, China, AP reports.

The latest: The respiratory illness has made its way to Europe, with France confirming three cases, Reuters reports. France's Health Minister Agnès Buzyn said Friday two patients are hospitalized in Paris. The other case is in the southwestern city of Bordeaux. They had returned from a trip that had a stop in Wuhan.

Go deeperArrowJan 20, 2020 - World

Lawyer alleges Giuliani associate recorded Trump comments on Ukrainian ambassador

Photo: Oliver Contreras/For The Washington Post via Getty Images

The lawyer for Lev Parnas, a Rudy Giuliani associate, claims there is a recording of President Trump saying former Ukraine Ambassador Marie Yovanovitch should be fired, the Daily Beast reports.

The latest: Parnas said on Friday that he has turned the recording over to the House Intelligence Committee, per the New York Times — as Rep. Adam Schiff (D-Calif.) led House Democrats in laying out the case for impeaching Trump before the Senate.