Sunday December 7th

Welcome to this week’s edition of Red State Finance — where the economy is shaky and the politics are messier than the fraud scheme Minnesota somehow “didn’t notice”, and apparently even America’s wildlife has decided it’s had enough.

Case in point: a raccoon broke into a liquor store, helped itself to the scotch and whisky, and was found passed out in the bathroom. When even the local critters are drinking through the uncertainty, you know it’s been a week.

Politics & Policy

In the “you’ve got to be kidding me” file, federal officials say Somali refugee networks in Minnesota pulled off the largest theft of taxpayer dollars in U.S. history — and local Democratic leaders apparently watched it happen like it was community theater. More than $1 billion meant for hungry kids, the homeless, and autism therapy… gone.

Donald Trump is taking heat after commuting the prison sentence of David Gentile — the former investment manager convicted of defrauding investors out of $1.6 billion. Gentile was given seven years in 2024 for misrepresenting the performance of private equity funds that pulled in more than 17,000 retail investors.

The White House also moved to freeze all immigration applications from 19 countries, with plans underway to expand the travel ban to more than 30 nations. The administration says the goal is tightening national security and restoring order to a system they argue has been overwhelmed for years.

Chicago, running out of both money and ideas, wants to charge residents $1.25 per package delivered… after blowing $600 million on migrants. And in Portland, the city decided to rename the Christmas tree in the main square simply “the tree,” which went over about as well as you’d expect. Conservatives called it the latest round of holiday erasure — courtesy of the municipal Woke Committee.

Markets & Money

Housing analysts now warn the market could face a correction worse than 2008 — with the possibility of prices dropping by half in months.

Gas prices have dropped to $3 a gallon — the lowest since 2021. It’s welcome news for drivers nationwide, and the White House is highlighting the relief as a sign that broader cost pressures may finally be easing.

And Cyber Monday shoppers smashed a new record, spending $14.25 billion — up more than 7% from last year. Turns out Americans may not trust the economy, but they definitely trust a discount.

Business & Culture

Tucker Carlson is officially in the precious-metals business with the launch of Battalion Metals, warning that a weakening dollar and global instability make now the time to buy gold, silver, and platinum.

Yankee Candle is snuffing out 20 stores across North America as Newell Brands cuts down its retail footprint.

US job cuts surged 183% in October, hitting 153,000 — pushing total layoffs this year to more than 1.1 million, the highest since the pandemic. It raises an uncomfortable question: is America’s “no hire, no fire” era officially over?

Meanwhile, Costco is suing the Trump administration over tariffs, hoping to claw back millions if the Supreme Court rules the policy unlawful. And if the outcome doesn’t break in Trump’s favor, it could turn into one very expensive refund policy for America.

Winners:

Lane Kiffin — LSU’s newly crowned $91 million man, proving there’s always money for college football contracts (just don’t ask about that tuition increase coming down the line).

American Babies — Michael and Susan Dell are pledging $6.25 billion to seed new “Trump Accounts” with a $1,000 deposit for every child born between 2025 and 2028. Finally, babies getting a stronger financial start than most college grads.

Losers:

Jon Richelieu-Booth — a British IT consultant who spent 13 weeks in legal purgatory after UK police arrested him for posing with legal firearms on US soil. Despite proving the photos were taken in Florida — where holding a shotgun for fun is practically a state pastime — officers still charged him with “intent to cause fear of violence.”

Travelers without REAL ID — your procrastination now comes with a $45 price tag. TSA says those without the upgraded ID face new fees and likely longer lines. Because nothing says “holiday travel” like added costs and delays.

America Decides:

How You Voted Last Week: A staggering 88.88% of you voted to shut this tipping nightmare down immediately, calling it everything from “out of control” to “the unofficial tax no one voted for.” In other words: Americans are done tipping for self-checkout, done tipping for drive-thrus, and absolutely done tipping for things that require zero human interaction. The message was loud and clear — enough already.

Now, before we get into the rest of this week’s chaos, we need your take on one headline that just won’t fade away. The Pentagon approved strikes on suspected drug-running boats, and half the country is cheering while the other half is buried in legal textbooks.

88-year-old Army veteran Ed Bambas spent years working full-time just to survive after losing the pension he earned at GM. Then America found out — and everything changed. Fans rallied and raised over $1 million to finally give him the retirement he deserved. It’s one of those rare stories that actually restores your faith in people.
Watch this — it’s worth every second.

President Trump announced that Americans should expect record-breaking tax refunds when the next filing season opens, crediting the One Big Beautiful Bill Act (OBBBA) for extending expiring tax cuts and enacting new reforms. Treasury Secretary Scott Bessent added that many provisions are retroactive, predicting substantial refunds in early 2026.

Translation: Bigger tax refunds are on the way — Trump’s betting that Americans will feel the boost where it matters most: the bank account.

Investor Michael Green stirred debate after arguing that the official U.S. poverty line — $32,150 for a family of four — is wildly outdated. He notes the formula was created in 1963 by economist Mollie Orshansky, who based it on tripling a minimum food budget. Green argues the model fails to reflect today’s far higher costs for housing, health care, and basic living expenses.

Translation: If you think the poverty line feels disconnected from reality, this expert agrees — America’s cost of living outgrew the math decades ago.

Florida Gov. Ron DeSantis outlined the next steps toward eliminating property taxes on primary residences, a proposal that will require 60% voter approval on the 2026 ballot. DeSantis argues that rising local property taxes are squeezing residents due to overspending by local governments. If passed, Florida would become the first state to end property taxes on primary homes while also maintaining no state income tax.

Translation: DeSantis is making his pitch clear: if local governments won’t stop hiking taxes, he’ll take the tax entirely off the table.

You’re probably paying too much for home insurance — seriously.
Most homeowners don’t realize how fast premiums creep up or how much they can save by comparing plans. If you haven’t checked your rate recently, now’s the time.

Over the last 6 years, home insurance rates have increased by up to 76% in some states. Between inflation, costlier repairs, and extreme weather, premiums are climbing fast – but that doesn’t mean you have to overpay. Many homeowners are saving hundreds a year by switching providers. Check out Money’s home insurance tool to compare companies and see if you can save.

Compare coverage

Robbie Epstein, the 25-year-old founder of YesLawyer, is warning that every law firm will eventually become “AI-forward or obsolete.” His platform analyzes all client communications, documents, and evidence to create a comprehensive case picture no human could match. While traditional mid-size firms manage a few thousand cases annually, YesLawyer has processed 15,000 in under a year with AI-enhanced legal teams. Epstein, backed by $5 million in funding, says the software’s ability to spot patterns mirrors how modern healthcare systems operate.

Translation: The legal world’s about to learn what every other industry already knows: AI doesn’t send warning shots — it just rewrites the rules.

Cybersecurity expert and former FBI operative Eric O’Neill says holiday scams are rising sharply as criminals use AI to create highly personalized attacks. Fake delivery texts, copycat retail sites, and bogus charity appeals are becoming harder to detect, especially as scammers mimic voices, craft convincing messages, and blast out thousands of targeted attempts in seconds.

Translation: It’s the season of giving — and scammers are hoping you’ll gift them your bank account.

Dollar General announced it will open about 450 new U.S. stores in 2026, along with additional locations in Mexico, as part of a broader growth strategy outlined during its Q3 2025 earnings call. The retailer also plans roughly 4,250 remodels, 20 relocations, and continued investment in its rural-focused footprint and long-term expansion initiatives.

Translation: When the economy tightens, Dollar General doesn’t blink — it builds more stores because it knows exactly where America is shopping.

Chicago has been named the most congested city in the U.S., with the average driver losing 112 hours a year sitting in traffic, according to Inrix’s Global Traffic Scorecard. The Windy City surpassed New York after a sharp 10% jump in lost driving time, cementing its place at the top of America’s gridlock rankings.

Translation: Chicago drivers aren’t commuting anymore — they’re serving a part-time sentence on I-90.

President Trump issued a stark warning to European nations, saying they risk becoming “unrecognisable” within the next two decades due to cultural and security pressures. While unveiling his new national security strategy, Trump sharply criticized long-standing allies and outlined an approach aimed at “cultivating resistance” within Europe and restoring what he called “Western identity.”

Translation: Trump’s message to Europe was simple: protect your culture now, or there won’t be much left to protect later.

U.S. Citizenship and Immigration Services announced it will shorten Employment Authorization Document validity from five years to just 18 months. The agency says the change is intended to enable more frequent background checks, detect fraud earlier, and remove individuals deemed security risks. Director Joseph Edlow pointed to recent security incidents as evidence that tighter, more regular vetting is necessary.

Translation: More paperwork, more vetting, fewer risks — Washington’s message is simple: if you want to work here, expect the spotlight to stay on.

A Minnesota judge is under scrutiny for overturning a guilty verdict against Abdifatah Yusuf, who prosecutors say stole $7.2 million in Medicaid funds through a fake home healthcare business that operated out of a mailbox. Authorities allege the funds were used to fund luxury shopping sprees at high-end retailers like Coach, Nike, Michael Kors, and Nordstrom.

Translation: Minnesota let a $7.2 million fraud case walk — proving once again the state can track everything except its own taxpayer money.

The FIFA World Cup Draw took place in Washington, D.C., where Trump received the first-ever FIFA Peace Award before the main event revealed the U.S. group-stage matchups. Team USA will face Paraguay, Australia, and one of Slovakia, Romania, or Türkiye in the 2026 tournament.

Translation: The world watched, the balls dropped, and now Team USA gets its chance to prove it can compete — and win — at the sport every other nation treats like a religion.

Let’s be honest: in a country where we can’t agree on what a recession is, what a woman is, or whether ketchup belongs on steak, it’s rare to find something that should unite everyone — Right, Left, and everyone stuck in the middle wondering when common sense went missing.

But Trump Accounts?
These might be the closest thing we’ve had to a bipartisan no-brainer in years.

This program — created under the One Big Beautiful Bill Act — gives American kids a legitimate head start at building real wealth.
Not theoretical wealth.
Not “government-dependent” wealth.
Not “we’ll fix this later, trust us” wealth.

Actual, compounding, market-driven, capitalism-powered wealth.

Here’s what it looks like when policy finally remembers who this country belongs to:

That’s not socialism.
That’s the opposite of socialism.
It’s the American Dream rebooted for a generation that desperately needs it.

Even the Left should be cheering for this — and deep down, they know it.
Because you can’t claim to support “equity” while opposing the single most practical wealth-building tool ever handed to American kids.

Trump Accounts don’t redistribute money; they redistribute opportunity.
They don’t punish success; they teach it.
They don’t grow government dependency; they grow independence.

Imagine a country where an 18-year-old isn’t entering adulthood with nothing but debt and a TikTok addiction — but instead with a five-figure investment account that’s been compounding since birth.

That’s not political.
That’s patriotic.

This is how you strengthen the middle class.
This is how you break generational poverty.
This is how you show — unmistakably — that capitalism still works.

And if we can’t agree on that?
Then the problem isn’t Trump Accounts…
It’s the people who pretend prosperity is partisan.