Are Americans feeling less cheerful this holiday season compared to recent years? Here’s a look at what traditional news outlets are saying, though the evidence seems a bit shaky.
A recent article from the Associated Press suggests that U.S. shoppers are experiencing economic conditions this holiday season that closely mirror those of December 2022, when inflation reached a striking 40-year peak. However, if you dig a little deeper into the polling data, it becomes clear that key questions about shopping habits in 2023 and 2024 were conveniently left out, while the article leans on loaded language and selective anecdotes to create a narrative of economic strife during the Trump years.
The December 12 piece doesn’t really anchor itself in the actual consumer sentiments or behaviors as reflected in public opinion polls. Instead, it opens with a sort of editorial declaration disguised as fact: “This holiday season isn’t going to be as enjoyable for U.S. shoppers since large-cap stocks are pulling funds from savings, hitting the bargain bins, and the economy generally feels stagnant under President Donald Trump.”
This isn’t so much an overtly anti-Trump take as it is an established framing that assumes a “stalemate under President Trump” as a given, embedding political conclusions into the very context presented.
Within just a few paragraphs, it shifts from expressing feelings to claiming causal connections. “President Trump’s series of tariffs has increased inflationary pressures and raised concerns about the stability of the U.S. economy,” the authors assert, laying it out as if it’s a settled fact without exploring the actual impacts of those tariffs, separating price levels from inflation rates, or providing any thorough economic discussion.
Interestingly, tariffs don’t seem to be exacerbating inflation significantly. A study from the Federal Reserve Bank of San Francisco analyzing 150 years of tariff data indicates that tariffs do not lead to inflation. In fact, prices for durable goods, as tracked by the Personal Consumption Expenditure Price Index, dropped over the three months leading up to September, according to the latest stats available.
This article is rife with language that implies a particular editorial viewpoint rather than neutral news reporting. Officials linked to Trump are poised to “insurrect” against him to “validate” public trust. Survey outcomes are labeled as a “sober evaluation.” The messages from President Trump create an “uncomfortable contrast.” The job market has seemingly slipped into a “deep freeze.” What we have here isn’t typical economic journalism, but rather a narrative being woven.
What’s notably absent from the article may reveal more than what’s actually included. The AP-NORC poll only queried about shopping behavior during December 2021 and December 2025, asking whether individuals were purchasing “non-essential items” less than usual or “holding off on major purchases,” while completely skipping the preceding years.
Pollsters did track overall economic sentiment each year during the respective gaps. The data, provided in a technical appendix, indicates that Americans’ perceptions of the economy improved from 25% in December 2022 to 32% in December 2024—a jump of 28%. Presently, the figure sits at 31%, which is pretty stable compared to the last year of the Biden administration.
By not including questions about shopping habits in 2023 and 2024, AP-NORC has essentially created a void in analysis. Without this data, we can’t accurately gauge whether Americans felt more financially strained during the closing years of the Biden presidency or if conditions got better under Trump.
The Associated Press article places repeated emphasis on the fact that Americans have “realized” various price increases: 87% noted higher grocery prices, 69% observed hikes in electricity costs, and 63% remarked on rising holiday gift prices.
Yet, it overlooks compelling evidence that counters its “stuck in a rut” narrative. The percentage of people recognizing increased food prices has actually fallen from 95% in 2022. While only 49% of respondents noticed a rise in gas prices, 83% felt the same way back in December 2022. And the number of individuals citing higher gift prices is down from 69% three years ago. All of this indicates that we’re not necessarily “stuck in a rut” under President Trump; rather, things seem to be improving.
The AP article has been shared by countless news organizations nationwide, including many local newspapers that subscribe to AP’s service. Each of these outlets has utilized a similar framework, underscoring President Trump’s struggle against inflation and consumer confidence, thereby crafting a consistent narrative throughout the media landscape.
