Money

NY Times

 

Andrew Lokenauth, TheFinanceNewsletter.com  -   If you're feeling behind, remember: 

 

• The average consumer debt is $23,000 
• Only 9% of Americans earn over $150,000 
• 67% of Americans live paycheck to paycheck 
• 46% of Americans aren't investing for retirement 
• 43% of Americans expect to be in debt over the next 1-5 years 
• 59% of Americans don't have $1,000 saved for an emergency

NPR - Holiday spending exceeded expectations, despite polling that shows Americans have low confidence in the economy. Black Friday and Cyber Monday set records, with Mastercard estimating that spending grew by nearly four percent in November and December. 

"More and more, it's the wealthy that are doing much of the spending," NPR's Alina Selyukh says. Many consumers are switching to more affordable options, such as T.J. Maxx or thrift stores, but luxury brands like Ralph Lauren continue to perform well. Growing wages have fueled much of the country's spending, Selyukh says, and the job market will be a key thing to watch in the year ahead.

Weather

Newsweek -  Winter weather-related alerts from the National Weather Service (NWS) span swathes of the U.S. as of early Friday, with the agency expecting up to 3 feet of snow to fall in parts of the country.

Winter storm warnings, issued by the NWS when “a significant combination of hazardous winter weather is occurring or imminent” have been issued for parts of California, Nevada, Idaho, Wyoming, Colorado, Pennsylvania, New Jersey, New York, Alaska, and Connecticut.

Mono County in California could see additional snow accumulations of 1 to 3 feet in areas above 8,000 feet, with 4 to 12 inches below 8,000 feet and along US-395, according to the agency.

Communities in the Greater Lake Tahoe Area could receive 8 to 16 inches—with 1 to 3 feet at locations above 7,000 feet, the NWS said in winter storm warnings that are in force until 4 p.m. Friday afternoon as of reporting.

Power and pleasure

Photo: Ken Cedeno/Reuters

 An annual Christmas Eve performance by the "Waterskiing Santa" along the Old Town Alexandria waterfront in Virginia. More pics: Royal Christmas.

Online notes

Axios - Major video streaming services have hiked their cheapest tier of ad-free subscription prices by an average of $6.69 since launch, according to an analysis by Axios' Sara Fischer. Streaming inflation has pushed users to pursue more free, ad-supported streaming options like Tubi and Roku.

It's part of what's driving consolidation in the industry, as entertainment giants look to rebundle and repackage their services to make them more palatable to cost-conscious consumers.

Disney+ now costs $18.99 for its cheapest, ad-free tier, up from $6.99 at launch in 2019.  Netflix and Hulu have each increased their cheapest ad-free tiers by $9 since launch.

Five of the eight major video subscription streamers introduced new price hikes in the U.S. this year. So 2026 may not see as many hikes. More

America losing religion

Axios -  The U.S. is undergoing its fastest religious shift in modern history, marked by a rapid increase in the religiously unaffiliated and numerous church closures nationwide, Axios' Russell Contreras writes.

The great unchurching of America comes as identity and reality are increasingly shaped by non-institutional spiritual sources — YouTube mystics, TikTok tarot, digital skeptics, folk saints and AI-generated prayer bots.

It's a tectonic transformation that has profound implications for race, civic identity, political persuasion and the ability to govern a fracturing moral landscape.

By the numbers: 

• Nearly three in 10 American adults identify as religiously unaffiliated — a 33% jump since 2013, according to the nonpartisan Public Religion Research Institute (PRRI). That's quicker than almost any major religious shift in modern U.S. history, and it's happening across racial groups.
•     About four in ten Americans ages 18 to 29 identify as religiously unaffiliated (38%), an increase from 32% in 2013, PRRI said.
•     Gallup polling finds 57% of Americans seldom or never attend religious services, a jump from 40% in 2000.

... An unprecedented 15,000 churches are expected to shut their doors this year, far more than the few thousand expected to open, according to denominational reports and church consultants.    These churches once served as community gathering places for Alcoholics Anonymous meetings, voting precincts, or town halls, leaving a void.

    Megachurches show signs of stability, but not enough to reverse overall declines. Share this story.

Crime drops

NPR -  Crime fell across much of the U.S. in 2025 — both violent and property crimes —  in big cities and small towns across red and blue. NPR spoke to researchers who study crime about what drove this trend, and whether it could last.  Here’s what they said:  

Homicide surged in 2020 and 2021 amid the economic, financial and psychological stress of the COVID-19 pandemic. Researchers say the country is now moving past that surge. 

The nationwide decline contrasts with the Trump administration's depiction of crime, particularly in Democrat-led cities.

Tahir Duckett, who directs the Center for Innovations in Community Safety at Georgetown Law, warns that using crime to justify crackdowns can erode civil rights and expand government power. 

Politics

NPR - Nearly 30 House Republicans are not seeking reelection next year, NPR's Claudia Grisales says. Speaker Mike Johnson saw pushback from his own party when he virtually closed the House during the 43-day shutdown. With a potential government shutdown in January and spiking health care premiums, affordability is expected to dominate the campaign trail — and Republicans aren’t guaranteed to hold on to their majority, Grisales notes.

How health costs will change in 2026

Meanwhile. . .

NBC - Record rainfall is dousing California, forcing evacuations and rescues from floods. Meanwhile, the Northeastern U.S. is bracing for a snowstorm. 

What to cook in the calm after Christmas

Trump carries out strikes on Nigeria

The Guardian -   Donald Trump has said the US carried out airstrikes against Islamic State militants in north-west Nigeria on Thursday, after spending weeks decrying the group for targeting Christians.

The president said in a post on his Truth Social platform: “Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS Terrorist Scum in Northwest Nigeria, who have been targeting and viciously killing, primarily, innocent Christians, at levels not seen for many years, and even Centuries!

“I have previously warned these Terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was. The Department of War executed numerous perfect strikes, as only the United States is capable of doing.”

The whopper falsehoods of 2025

Potential 23% cut in Social Security

Newsworty News -   A potential 23% cut in Social Security benefits looms, threatening millions of Americans with financial instability.

The Social Security Old-Age and Survivors Insurance Trust Fund is projected to deplete by 2033, triggering benefit cuts.

Recent legislation has accelerated the depletion timeline, now projected for 2032.

Over 70 million Americans could face significant financial challenges without Congressional intervention.
   

Weather

Newsweek -  A winter storm is predicted to hammer the Northeast's mid-Atlantic states on Friday with up to 10 inches of snow in some areas as it mainly hits parts of Pennsylvania, New Jersey and New York, according to the National Weather Service (NWS).

Most areas will expect between 4 and 8 inches of snow, but 10 inches will fall in some areas, meteorologists warn. The rest of the area will likely see less, from 2 to 5 inches as well as 8 inches in isolated areas...

The storm watch will go into effect at 4 p.m. Friday ET and last through 1 p.m. Saturday, according to the NWS. Snow is predicted to fall dry and powdery during the day before turning wet overnight, with a wintery mix of snow and sleet blanketing the region across Saturday morning.

Just 38 bills were passed by Congress this year

Independent, UK -  When President Harry Truman ran for re-election in 1948, he railed against a “do-nothing” 80th Congress that passed 906 separate bills into law over a two-year period, including the landmark Taft-Hartley union regulation law and the 1947 National Security Act that created the modern U.S. military establishment.

More than 75 years later, Truman would have a much easier time making the same argument against the 119th Congress.

During President Donald Trump’s whirlwind first year back in office, the Republican-led House and Senate has largely sat idle as the 47th president has usurped authorities once considered the exclusive domain of the legislature while doing just over 4 percent of the work done by their historically-maligned predecessors, sending a paltry 38 bills to the president’s desk to be signed into law. 

US Postal Service Price Changes Coming

Newsweek -   Shipping costs through the U.S. Postal Service are set to rise in early 2026 after the agency filed notice with the Postal Regulatory Commission on November 14, 2025. The proposed changes, approved by USPS governors this week, are scheduled to take effect on January 18. If implemented as planned, Priority Mail prices would increase by about 6.6 percent, while Priority Mail Express would rise roughly 5.1 percent. USPS Ground Advantage would see a larger increase of about 7.8 percent, and Parcel Select rates would go up by approximately 6.0 percent.

USPS explained that shipping prices are handled differently from traditional mailing services. While Mailing Services are generally adjusted based on inflation, Shipping Services are set in response to market conditions. As a result, the Postal Service has confirmed it will not raise Mailing Services prices in January, meaning the cost of a First-Class Mail stamp will remain the same—78 cents—for now.

Major Plant Shutdown Crushes Rural Town

Meanwhile. . .

ABC News - A federal judge’s ruling has cleared the way for Hawaii to include cruise ship passengers in a new tourist tax to help cope with climate change, a levy set to go into effect at the start of 2026. 

NY Times - On Christmas Eve, one Powerball ticket in Arkansas delivered a gift worth $1.817 billion. A single ticket sold in Arkansas matched all six numbers in Wednesday night’s drawing, winning the second-largest U.S. lottery jackpot ever, lottery officials said. The jackpot run had stretched to a record 47 drawings, officials said. The winning ticket was sold at a Murphy USA gas station in Cabot, Ark., lottery officials told The Associated Press.  

The global reindeer (caribou) population has plunged about 67% in three decades, falling from roughly 5.5 million to 1.88 million, according to NOAA's Arctic Report Card.  

Donald Trump

CBS - President Trump suggested that television broadcast licenses should be revoked if networks or late-night programs consistently present negative coverage of his presidency.

Polls

Political Polls

🔵 AOC 30%
🔵 Newsom 26%
🔵 Harris 23%
🔵 Buttigieg 21%

 

 

 

IAPoll : Net favorability among registered Democrats:

 Bernie Sanders: +64
Kamala Harris: +63
Santa Claus: +60
AOC: +46
Cory Booker: +41
Tim Walz: +40
Gavin Newsom: +37
Pete Buttigieg: +36 

PatriotWise -  Federal bureaucrats threaten to seize control of the Colorado River as seven Western states miss key deadlines, risking overreach that could strangle farmers and families dependent on this vital lifeline.

    Seven Colorado River Basin states failed the November 11, 2025, deadline for post-2026 water guidelines, exposing deep divisions between Upper and Lower Basin states.
    U.S. Department of the Interior issued a strict February 14, 2026, deadline, warning of federal intervention or lawsuits if states fail again.
    Prolonged drought has slashed river flows from 16.5 million to 12.5 million acre-feet annually, endangering 40 million people, tribes, and agriculture.
    Lakes Powell and Mead at critically low levels after dropping 112 and 148 feet since 2000, fueling immediate shortages in Arizona and Nevada.
    Trump administration faces mounting pressure to prevent federal power grabs that undermine state rights and local economies.

Temperatures expected to set record Christmas highs

The Washington Post - On Christmas Day, more than 100 individual high temperature records are forecast to be neared, tied or broken across the nation. While temperatures on one day of the year aren’t a reliable indicator of climate change, winter temperatures are rising countrywide. 

Food recalls

Newsweek -  A Michigan-based company has recalled holidays cookies due to the possible undeclared presence of allergens, the U.S. Food and Drug Administration (FDA) announced.  Troemner Farm issued a voluntary recall on Monday for two sizes of its Pfeffernusse Cookies due to the possible presence of milk, wheat and soy, which were not declared on the labels.

 Independent UK -  Direct Source Seafood LLC is recalling 83,800 bags which could be contaminated with cesium-137, a human-made radioactive isotope, the U.S. Food and Drug Administration (FDA) said.No illnesses linked to the recalled shrimp have been reported to date, the FDA confirmed. The shrimp, imported from Indonesia, was sold under the Market 32 and Waterfront Bistro brand names

Pennsylvania High Court Rules Police Can Access Google Searches Without Warrant

Reclaim the Net -   The Pennsylvania Supreme Court has a new definition of “reasonable expectation.” According to the justices, it’s no longer reasonable to assume that what you type into Google is yours to keep.

In a decision that reads like a love letter to the surveillance economy, the court ruled that police were within their rights to access a convicted rapist’s search history without a warrant. The reasoning is that everyone knows they’re being watched anyway.

The opinion, issued Tuesday, leaned on the idea that the public has already surrendered its privacy to Silicon Valley.

Money

MSN -  Household debt ballooned to a record $18.6 trillion during the third quarter of 2025.

Trump regime bans veterans agency from providing abortions

The Guardian -   The Department of Veterans Affairs can no longer provide abortions to veterans, including in cases of rape or incest, following a Department of Justice memo that found last week that the practice was not legally sound.

The ban follows months of efforts by the Trump administration to roll back a Biden-era policy that, for the first time, permitted the VA to counsel veterans and their families about abortion, as well as offer the procedure in cases of rape or incest, or when a veteran’s pregnancy imperiled their health. In August, the administration filed paperwork to officially roll back the policy, which had helped the VA’s network of 1,300-plus healthcare facilities – which treat nearly 10 million veterans each year – expand access to abortion, especially in the wake of the US supreme court’s 2022 overturning of Roe v Wade.

Polls

MSN -  Donald Trump’s nemesis, Federal Reserve Chair Jerome Powell, has registered the highest approval rating among current political leaders, a new poll has revealed.

A Gallup survey shows that Powell—whom Trump has long berated while demanding interest-rate cuts—is more highly regarded by Americans than the president, members of Trump’s Cabinet, and leading Democratic figures.

The poll shows Powell’s approval rating at 44 percent, compared with Trump’s second-term low of 36 percent. The president’s current approval is only slightly above his all-time low of 34 percent, recorded in the wake of the Jan. 6 attack on the Capitol in 2021.

Independent, UK - President Donald Trump’s job approval rating stands at just 36 percent in the latest Gallup poll, the joint-worst rating of any U.S. president at the end of their first year in power of the last 50 years.

The other man? Himself – at the end of the first year of his first term in December 2017 – when he picked up precisely the same score.

For comparison, his predecessor Joe Biden was at 43 percent at the end of his first year in the Oval Office in December 2021.

Looking further back, there is one president with a worse approval rating than Trump at the end of the first year of their second term, Richard Nixon, who scored 30 percent in December 1973

19 States Sue to Block White House Plan to End Gender-Related Care for Minors

NY Times - A coalition of 19 states on Tuesday sued to block the Trump administration’s plan to strip federal funding from hospitals providing gender-related care for minors, a policy that would effectively shut down any health care providers that failed to comply.

That plan, announced on Thursday by Health Secretary Robert F. Kennedy Jr., would cut off all Medicaid and Medicare payments — which make up a major share of hospital revenue — to any facility that provides minors with gender-related treatments in the country.

Part of the underpinning of that plan is a declaration by Mr. Kennedy that gender-related treatments for minors “fail to meet professional recognized standards of health care.” In the suit, the states argue that the declaration is unlawful and a government overreach.

South leads in new housing

Newsweek -   While the growth in home prices that the country experienced during the pandemic homebuying frenzy, which was fueled by low borrowing costs, has slowed down this year, a home is a much more costly purchase now than it was in 2019. 

Between 2019 and 2024, median single-family home prices rose by 48 percent nationally at more than twice the rate of median income, which rose by 22 percent, according to the Joint Center for Housing Studies (JCHS) at Harvard University.

But in a few markets across the country, home prices have been falling this year—and are likely to continue declining in 2026. Most are in the two states that have been building the most new homes over the past few years—Florida and Texas.

Florida and Texas have been experiencing a construction boom during the pandemic, as developers tried to keep up with increased demand. Last year, the two states topped the nation for building permits, totaling 173,326 for Florida and 225,756 for Texas, according to Census Bureau data.

The South alone received authorization to build 805,034 housing units out of the nation’s total 1,478,000 last year. The West followed with 327,256.

Only data from January to August has been made available by the Census Bureau so far this year. But the numbers show that the South and the West once again dominated the country for number of housing permits authorized, respectively at 533,854 and 210,342 respectively.

Meanwhile. . .

NPR - Today, the word "yule" conjures up images of cozy Christmas cheer. But Yuletide traditions got their start in wild parties and animal sacrifice. On this week's Word of the Week, dive into the pagan origins of Yule festivals.

High court hands Trump a major loss

The Hill - The Supreme Court on Tuesday ruled that Trump may not deploy National Guard troops to Chicago amid his push to patrol multiple Democratic-led cities.

After more than two months of consideration, the court, in an apparent 6-3 decision, declined to pause a district court judge’s ruling temporarily halting the National Guard troops from being federalized and deployed in Illinois, The Hill’s Ella Lee reports.

“At this preliminary stage, the Government has failed to identify a source of authority that would allow the military to execute the laws in Illinois,” the unsigned order reads.

This is the first time the court has ruled on the president’s use of National Guard troops domestically.

The court explained that to justify mobilizing the National Guard, a president must be unable to execute laws with the regular forces of the U.S. military, Lee reports. That would require “exceptional” circumstances because of the Posse Comitatus Act, a law that generally bans federal troops from acting as civilian law enforcement.

Trump has sent the National Guard to major cities including Chicago, Portland, Los Angeles and Washington, D.C., prompting challenges that could be affected by Tuesday’s decision.

NPR -  Because the ruling came through an emergency decision, it does not set precedent, NPR's Kat Lonsdorf explains. The decision applies only to this specific case in Illinois, not to troop deployments elsewhere. But deployments in other cities are currently tied up in litigation in lower courts, and Lonsdorf says lower court judges tend to look to these emergency decisions for guidance