Name: New poll suggests Americans concerned with high costs of holidays
Uploaded: 2025-12-19T15:12:46.417Z
Duration: 3 min 42 s
Description: A recent CBS News poll shows many Americans are concerned about the high costs of holiday shopping. Lori Bettinger, the president of BancAlliance, joins CBS News with more details.

A recent CBS News poll shows many Americans are concerned about the high costs of holiday shopping. Lori Bettinger, the president of BancAlliance, joins CBS News with more details.

Washington

A recent CBS News poll reveals that 58% of Americans find holiday purchases somewhat or very difficult to afford, and nearly half report feeling stressed about the season. Despite a slowing inflation rate, many households continue to experience elevated prices for essentials such as gas, groceries, and gifts.

Experts note that while consumer spending remains robust, especially among higher earners, many families are being more selective and seeking out sales. Financial experts advise shoppers to create budgets, consider shopping locally, and give experiences rather than material gifts to help manage costs and stress during the holidays.

New poll suggests Americans concerned with high costs of holidays

All right, the holidays are quickly approaching, they're effectively here, but this season of gift-giving is not filling everyone with joy. CBS News polling shows holiday purchases are either somewhat or very difficult to afford for 58% of Americans, that's most people out there, and nearly half of these respondents also say they're stressed about the holiday season. Let's bring in Laurie Bettinger now. She is the president of Bank Alliance, a network of community banks, and she was also the director of the Troubled Asset Relief Program under President Obama. Good morning, Laurie. So folks out there are stressed right now. I think that's very relatable. But yesterday's CPI report shows inflation is elevated, but it's slowing. Why don't any of us feel that yet? Good morning. That is a great question, and what we saw yesterday, as you mentioned, is inflation is still there. There's less than there was, but I think there's a lot of questions about the report that came out yesterday. It's good news, and that's always nice to see, but because of the government shutdown, the way it was collected was a little bit different, and there's some aspects of that collection that have led a lot of economists to say, hey, even though this is good news, you don't want to cry victory yet, let's wait and see what happens next month, when you'll probably see less of an impact from the recent government shutdown. But to your point, you can look at this data and say, hey, that's great, but every household is impacted differently, and I can't imagine right now being sort of your typical household that has to buy gas or groceries or presents, and you don't think to yourself, hey, these prices definitely seem higher than they were. I think we're just seeing these higher prices for goods or services everywhere, no matter what the data says. And even though it's difficult or challenging and people are stressed about their holiday purchases, they're still spending, and the National Retail Federation says, in fact, a record number of people are expected to shop in stores and online tomorrow specifically. How do we make sense of that, the pressure people are under and the stress and the fact that they're still swiping the credit cards anyway? Well, you know, especially in our economy, consumer confidence and consumer spending really powers a lot of the economy, and I think what we're seeing is we still have people that want a good holiday, that, you know, sort of want to be able to celebrate their families and friends, and people are reaching, you know, whether—and this is where you sometimes see a big difference between some of the high earners in our country who are still spending fairly strongly. Maybe they're feeling good about their retirement accounts because they have them, maybe they own stocks and they've seen those balances increase, so you still see a lot of spending in certain areas. And then I think for other families who feel sort of much more impacted by this inflation and, you know, their budget feels really tight, I think people are just being more selective in what they purchase, really looking for sales. But, you know, I think for our economy, seeing this continued confidence and willingness to spend is something that keeps the economy, you know, going. And in our last few seconds, Laurie, what advice do you give for people ahead of some intense shopping this weekend, considering they feel financially burdened? Of course. I think you always want to make a budget and a list and try and stick to it, particularly at this point in the game when, you know, Christmas is right around the corner. I think this is a great time, you know, to shop local, keep your money in your local economy, don't pay for shipping costs, and also give someone an experience. You could do game night, you could, you know, babysit, dog walking, all of those are going to be really valued by the recipient and probably will cost you more time than money. So think creatively this year. Some great ideas, Laurie Bettinger, we are thankful for you, appreciate your time with us this Friday, enjoy your weekend and happy holidays.

TikTok has signed a deal to sell its U.S. operations to a group of investors in America, a source familiar with the deal tells CBS News.

TikTok nears deal to avoid ban in the U.S.

Russian President Vladimir Putin reacted to the European Union's massive $108 billion loan to fund Ukraine's war against Russia.

Kyiv

European Union loans Ukraine billions as Putin boasts about war

The war, which began with Russia’s full-scale invasion in February 2022, continues to take a heavy toll on civilians, particularly in frontline areas such as Zaporizhzhia, where fighting and shelling persist.

Moscow

Ukraine Invasion

Putin accuses Kyiv of rejecting peaceful settlement

The man believed to be responsible for carrying out the Brown University shooting and killing an MIT professor was found dead in a storage unit in New Hampshire on Thursday, officials said.

Salem

Suspect in Brown and MIT shootings found dead

Australia will launch a national gun buyback program in the aftermath of a deadly attack on a Hanukkah celebration at Sydney's Bondi Beach, Prime Minister Anthony Albanese said.

Council of the City of Sydney

Australia announces gun buyback program after Bondi Beach shooting

TikTok’s Chinese owner, ByteDance, signed binding agreements with American investors to allow the U.S. arm of the business to continue operating.

Beijing

TikTok signs deal to allow app to continue operating in the U.S.

Under a law passed by Congress and signed by President Trump, the Justice Department has until Friday to release its files on the Jeffrey Epstein case. House Democrats released more photos from the estate of the convicted sex offender. Scott MacFarlane reports.

House Democrats release more Epstein photos ahead of DOJ deadline

The European Commission announced it will delay the signing of the Mercosur trade agreement until the new year after Meloni asked for more time. No date has been set. Backers hope deal won't be further derailed.

Brussels

Mercosur signature delayed to January after Meloni asked for more time

President Trump on Thursday signed an executive order to reclassify marijuana as a Schedule III drug. CBS News White House reporter Aaron Navarro has more on that and the president's year-end address from Wednesday night.

Trump signs executive order reclassifying marijuana

President Donald Trump laid out what he claims are the reasons that America's economy is thriving in an address to the nation. This comes as Americans remain concerned about high prices.

Trump touts economic record during address to nation

Multiple sources tell CBS News a person of interest has been identified in the mass shooting at Brown University. CBS News' Tom Hanson reports.

Providence

Person of interest identified in deadly Brown University shooting

Brazil’s Senate passed a bill that could drastically reduce former President Jair Bolsonaro’s 27-year prison sentence for plotting a coup, potentially cutting his time behind bars to just over two years.

Rio de Janeiro

Brazil Congress passes bill to cut Bolsonaro prison term

EU leaders are split in Brussels over using frozen Russian assets to fund Ukraine. Poland backs urgent action, while Belgium resists over legal and financial risks. Ukraine is pressing for a decision by year’s end.

EU leaders urge swift decision on frozen Russian funds for Ukraine

The U.S. military said Wednesday that it attacked a boat accused of smuggling drugs in the eastern Pacific Ocean, killing four people on the same day the House rejected efforts to limit President Donald Trump’s power to use military force against drug cartels.

New U.S. strike on alleged drug boat kills four

The U.S. Justice Department said late on Wednesday (December 17) the federal government was liable in the fatal January 29 collision of an Army Black Hawk helicopter and American Airlines regional jet that killed 67 people near Reagan Washington National Airport.

U.S. admits liability in fatal Black Hawk-American Airlines crash

Nick Reiner made his first court appearance after being charged with two counts of first-degree murder in the killing of his parents, Rob Reiner and Michele Singer Reiner.

Los Angeles

Nick Reiner appears in court on murder charges in killing of parents

The United States on Wednesday (December 17) approved $11.1 billion in arms sales to Taiwan, marking the largest ever U.S. weapons package for the island, which is under increasing military pressure from China.

U.S. approves $11.1 billion arms package for Taiwan, largest ever

EU leaders will gather in the coming hours to vote on potentially using nearly 200 billion dollars in frozen Russian assets to support Ukraine. But it's a controversial and risky plan.

EU leaders to vote on Ukraine loan backed by frozen Russian assets

Nick Reiner made his first court appearance on Wednesday since being arrested for the killings of his parents, Rob and Michele.

Nick Reiner makes first court appearance since parents' deaths

Vladimir Putin said Russia would achieve its goals by diplomatic or military means and would seek to expand a “security buffer” zone in Ukraine.

Putin warns Russia will extend gains in Ukraine if peace talks fail

Newly-released surveillance video shows Nick Reiner at a gas station convenience store just hours after he allegedly fatally stabbed his parents, Rob and Michele Reiner, and minutes before he was taken into custody.

New surveillance video shows Nick Reiner before his arrest

U.S. President Donald Trump announced on social media a "total and complete blockade of all sanctioned oil tankers" going in and out of Venezuela. Some details remain unclear, including when the order would be implemented and how many tankers could be involved.

Caracas

Trump orders blockade on Venezuela oil tankers

A man who allegedly opened fire on a Hanukkah celebration at Sydney's famed Bondi Beach has been charged with 59 offences, including murder and terrorism, New South Wales Police said.

Accused Bondi Beach gunman formally charged with 59 offences

The Trump administration has issued a full travel ban on five more countries as well as people traveling on documents issued by the Palestinian Authority. It also imposed new limits on 15 other countries.

Trump expands travel ban, restrictions to include 20 new countries

Australia mourns victims of the Bondi Beach shooting – As police prepare charges against the surviving gunman.

Bondi Beach shooting: Funerals begin as investigation continues

Four days into the manhunt, law enforcement officials in Providence, Rhode Island, are still unable to publicly identify a suspect, despite a $50,000 reward and pleas for help.

Police release new images of person of interest in Brown shooting

Nick Reiner will be charged with two counts of first-degree murder with special circumstances for the killings of his parents, Rob Reiner and his wife Michele Singer Reiner, who were found dead in their home over the weekend, Los Angeles County District Attorney Nathan Hochman said.

Rob Reiner's son to be charged with first degree murder of parents

U.S. military actions in international waters near Venezuela are under scrutiny following a September 2nd strike on a boat the U.S. claimed was transporting drugs, though no evidence has been provided.

U.S. bombings in international waters face scrutiny over Venezuela

The U.S. military says it has conducted another series of deadly strikes on three alleged drug boats in the Eastern Pacific, killing eight people. CBS News congressional correspondent Nikole Killion reports on that and more from Capitol Hill.

U.S. hits three more alleged drug boats in the Pacific, killing eight

U.S. President Donald Trump has followed through on his threat to sue the BBC over a misleading video edit of a speech he made on January 6, 2021, and filed a lawsuit against the media corporation on December 15. He will be seeking 10 billion dollars in damages.

Breakdown