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Tag: spending

  • How to find cheap flights anywhere – MoneySense

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    Thankfully, I’ve picked up a few tips for hunting down cheap (or at least cheaper) flights from Toronto and beyond. Here’s how I keep my flight costs down while keeping my sense of adventure up.

    Featured travel credit cards

    8 ways to save on flights 

    From travel apps to credit card rewards, here’s how Canadian frequent flyers stay on budget.

    1. Search the smart way

    The first site I always check when booking a trip is Google Flights, which has a ton of tools many people don’t know about. In addition to listing flights, it can help you find lower prices. For example, you can set alerts for price changes for your preferred dates or for any date for a given destination. It also shows you a price grid for alternative dates, and a graph that predicts when fares will peak.

    Last year, Google Flights added an AI feature that lets you describe your ideal trip—for example, “family weekend ski vacation in Canada” or “one-week trip to a city with great museums and architecture.” Google will then search for the best destinations and flights that match that query. 

    The feature is still in beta mode, so you need to be signed into your Google account to access it. There are also limits on what you can search. For example, it won’t find you multi-city trips or layover requests.

    I’m also a fan of Hopper, which is Canadian-owned. The app tells you whether now is a good time to book or you should wait. If Hopper recommends waiting, you can “watch this trip” and receive an alert when it’s a better time to buy.

    If you find a good price but need more time to decide, you can pay for Hopper’s “Price Freeze” option to hold the fare for one, three, seven, or 21 days. If the price of the flight rises, Hopper will cover the difference up to $406. If the price falls, you pay the lower price, and if the seat is sold out, you get a refund.

    The Price Freeze fee varies by the time window and ticket price. For example, for a $192 Toronto–Montreal flight in mid-June, the quoted fee was $24 for three days and $50 for 21 days. For a $1,016 Vancouver–Hanoi flight in April, the fee was $57 for three days and $122 for 21 days.

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    2. Book at the right time

    There’s a sweet spot for when to book your flight. For domestic flights, one to three months in advance tends to yield the best prices.

    For international trips, Hopper recommends you start flight shopping sooner—about three to six months before departure. You might find great deals just a month prior, but you risk not getting your preferred airline, flight route, or seat.

    The day you book can also help save money. According to Expedia’s 2025 Air Hacks Report, booking on Sunday gets you the biggest savings.

    3. Fly at the right time

    If you can, avoid flying during peak periods (March Break, Christmas, etc.), when flights can jump by hundreds of dollars.

    Of course, not everyone has the flexibility to choose when they vacation, but you could still save by changing your travel dates by a day or two. For example, flying midweek is almost always cheaper than flying on weekends and can reduce the cost by $50 to $100 or more.

    This is especially true during those peak times. As of writing, a direct Air Canada Rouge flight (Standard Economy) from Toronto to Cancún during March Break is $2,052 if you fly Sunday to Sunday. But if you’re able to do Monday to Monday, that same flight drops to $1,373. 

    When you’re searching for flights or setting alerts, tick the “flexible dates” option so you’ll be notified about cheaper fares on alternate dates.

    4. Opt for the layover

    Direct flights are typically more expensive than those with a stop along the way. While a layover can be a pain—especially if you’re on a tight schedule—spending a few extra hours in an airport may be worth it if the savings are significant.

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    Tammy Burns

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  • How cashback credit cards work – MoneySense

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    The cash back you earn accumulates in your account and can be redeemed as statement credit, direct deposit, or sometimes as gift cards, merchandise, or money towards a future purchase. The key is to pay off your balance in full every month, since carrying a balance can wipe out any rewards you earn due to interest. Let’s get into it.

    Featured cashback credit cards

    What is a cashback credit card?

    A cashback credit card is a type of rewards card that gives you a percentage of your spending back in the form of cash. Depending on the card, this could be a flat rate on all purchases, or tiered rates based on shopping categories (like 4% for grocery, 2% for transit, and so on). 

    Compared to points or travel rewards cards, cashback cards are the most flexible. With cash back, the value is fixed. You’ll always know exactly what you’re earning and how you can use it. Points cards, on the other hand, tie your rewards to a specific program (like PC Optimum or Scene+), which can be great if you’re loyal to those retailers but more restrictive overall. Travel rewards cards can take it one step further in terms of overall value, especially when redeemed strategically for flights or hotel stays, but it’s more complex to get the full value out of those points.

    Let’s take a look at some of the clear differences between cash back credit cards and travel rewards/points cards:

    The bottom line: Cashback credit cards are best for simplicity and flexibility, and they offer a guaranteed discount on your spending. Travel rewards cards or points cards suit cardholders that want to maximize value on travel related purchases and can be trickier to get the most value out of.

    How cashback credit cards work (aka how to earn cash back)

    Cashback credit cards all work on the same principle. You earn a percentage of your purchases back as cash. How you earn varies depending on the card, though.

    Flat rate rewards

    These cards keep things simple by offering the same cashback rate on every purchase. You don’t have to track categories or spending caps, just swipe and earn. The earn rates tend to be a bit lower as a result of the flat rate, however. The Home Trust Preferred Visa is an example of this type of card.

    A 1.5% flat-rate card like the Rogers Red World Elite Mastercard gives you $1.50 back for every $100 spent (and 3% on USD purchases!), no matter what you buy.

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    Boosted earn rates

    Many cash back cards offer higher rewards in certain categories while giving a lower base rate on everything else. This makes them especially valuable if your biggest expenses align with the boosted categories.

    The Scotiabank Momentum offers a whopping 4% back on groceries and recurring payments, 2% on gas and transit, and 1% on all other purchases. It typically offers a generous welcome bonus, too.

    Pro Tip: Look for cards that match your biggest expenses. A 4% grocery card is only worth it if groceries are a large share of your monthly budget.

    Custom or rotating boosted rewards

    Some cards let you choose your own bonus categories, while others rotate them automatically. This gives you a bit more flexibility, but also requires more attention to detail.

    With a card like the Tangerine Money-Back Card, you pick 2–3 categories to earn extra cash back in—and you can change them every 90 days. Cards like the CIBC Adapta Mastercard automatically boost whichever categories you spend the most on each month.

    Pro Tip: Always pay your balance in full. Carrying even a small balance at 20% interest can wipe out months of rewards quickly.

    How to redeem your cash back

    Earning rewards is only half the story, redeeming them is where you see the value. Most cashback credit cards give you a few options:

    • Statement credits: The most common method. You apply your cash back directly to your credit card balance, lowering what you owe.
    • Direct deposit or cheque: Some issuers allow you to transfer your rewards straight to your bank account or request a mailed cheque.
    • Automatic redemption: With certain cards, your cash back is automatically applied once you reach a set threshold.

    Gift cards or merchandise: A few programs allow redemption for retailer gift cards or purchases through the issuer’s online rewards story, or even cash off a purchase.

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    Thomas Kent

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  • How often should you check in on your finances? – MoneySense

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    What to check monthly

    Budgeting should happen consistently and frequently, said Jason Heath, an advice-only financial planner at Objective Financial Partners. “If you really want to get into the weeds on what you’re spending money on, trying to find ways to spend less, that should be a very frequent exercise,” he said, suggesting people do it monthly—or, if they’re new to budgeting, weekly.

    Heath said budgeting is especially important for those who have difficulty paying off their credit card on time or hitting their financial goals. Keeping a frequent check could help you see spending patterns and allow for changes to stay on course.

    People should also be reviewing their credit card statements to make sure there are no unexpected deductions or charges, said Wendy Brookhouse, certified financial planner and founder of Black Star Wealth. “Make sure that you catch that right away,” she said, so that you are able to fix the problem before it snowballs.

    What to check quarterly

    Brookhouse said it’s important to check in on your credit score every three months. She suggested reviewing both your Equifax and TransUnion reports. “Believe it or not, they may not always be the same,” she said. “You want to make sure that there’s nothing erroneous on it, identity theft …  because even if you found it today, it could take you a long time to get that removed,” Brookhouse said.

    A check-in on subscriptions or charges on accounts, such as Amazon and Apple, should also be on your quarterly to-do list, she said. For example, scrutinizing your Amazon or Apple accounts could help catch any charges for games or movies that your kids may have purchased.

    Also, check on subscriptions you may have signed up for trials on and forgot to cancel. “Review your donations,” Brookhouse said. “When I say donations, I mean the things you’re buying and subscribing to that you are no longer using, so you’re in effect donating to the company.”

    Then, go shopping every three months for better phone and Wi-Fi plans or even auto insurance. “Make sure you have the right plan for the right price because if your usage has changed or your patterns have changed or there’s new programs out, you may find there’s something better for you and that’s more cost-effective,” she said.

    For people who are business owners or have significant taxable non-registered investments, tax planning should be on their frequent checklist, Heath said. “The more complex somebody’s situation is, tax planning is definitely at least a quarterly discussion,” he said.

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    What to check annually

    Checking in on investments is an annual affair, Heath said. “Investments are something you would benefit from looking less frequently,” he said. “For a lot of investors, quarterly or annually is probably enough as far as taking a deep dive on your investment.”

    For people who are T4 employees with straightforward deductions, tax check-ins can be done annually, Heath said. However, he said people should plan their taxes proactively instead of retroactively when the tax season for the past year comes around in April. Instead, think about what you need to do for the current tax year while you still have time to take action.

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    Most yearly check-ins, such as reviewing your investments or life insurance, should also be reviewed during major life changes, Brookhouse said. “If you had a child, that may change your insurance requirements. If you get divorced, that could be a change,” she said. Brookhouse suggested looking at planning documents, such as checking if your will’s executor is still up to the task and whether the document expresses your current thinking.

    Another yearly review to-do should be bank fees. Brookhouse said people should shop around to make sure they can find the lowest fee for their needs, remembering that fees may have crept up over time.

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    About The Canadian Press

    The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

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  • A tale of two Ralphs — Lauren and the supermarket — shows the reality of a K-shaped economy

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    John and Theresa Anderson meandered through the sprawling Ralph Lauren clothing store on Rodeo Drive, shopping for holiday gifts.

    They emerged carrying boxy blue bags. John scored quarter-zip sweaters for himself and his father-in-law, and his wife splurged on a tweed jacket for Christmas Day.

    “I’m going for quality over quantity this year,” said John, an apparel company executive and Palos Verdes Estates resident.

    They strolled through the world-famous Beverly Hills shopping mecca, where there was little evidence of any big sales.

    John Anderson holds his shopping bags from Ralph Lauren and Gucci at Rodeo Drive.

    (Juliana Yamada / Los Angeles Times)

    One mile away, shoppers at a Ralphs grocery store in West Hollywood were hunting for bargains. The chain’s website has been advertising discounts on a wide variety of products, including wine and wrapping paper.

    Massi Gharibian was there looking for cream cheese and ways to save money.

    “I’m buying less this year,” she said. “Everything is expensive.”

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    The tale of two Ralphs shows how Americans are experiencing radically different realities this holiday season. It represents the country’s K-shaped economy — the growing divide between those who are affluent and those trying to stretch their budgets.

    Some Los Angeles residents are tightening their belts and prioritizing necessities such as groceries. Others are frequenting pricey stores such as Ralph Lauren, where doormen hand out hot chocolate and a cashmere-silk necktie sells for $250.

    People shop at Ralphs in West Hollywood.

    People shop at Ralphs in West Hollywood.

    (Juliana Yamada / Los Angeles Times)

    In the K-shaped economy, high-income households sit on the upward arm of the “K,” benefiting from rising pay as well as the value of their stock and property holdings. At the same time, lower-income families occupy the downward stroke, squeezed by inflation and lackluster income gains.

    The model captures the country’s contradictions. Growth looks healthy on paper, yet hiring has slowed and unemployment is edging higher. Investment is booming in artificial intelligence data centers, while factories cut jobs and home sales stall.

    The divide is most visible in affordability. Inflation remains a far heavier burden for households lower on the income distribution, a frustration that has spilled into politics. Voters are angry about expensive rents, groceries and imported goods.

    “People in lower incomes are becoming more and more conservative in their spending patterns, and people in the upper incomes are actually driving spending and spending more,” said Kevin Klowden, an executive director at the Milken Institute, an economic think tank.

    “Inflationary pressures have been much higher on lower- and middle-income people, and that has been adding up,” he said.

    According to a Bank of America report released this month, higher-income employees saw their after-tax wages grow 4% from last year, while lower-income groups saw a jump of just 1.4%. Higher-income households also increased their spending year over year by 2.6%, while lower-income groups increased spending by 0.6%.

    The executives at the companies behind the two Ralphs say they are seeing the trend nationwide.

    Ralph Lauren reported better-than-expected quarterly sales last month and raised its forecasts, while Kroger, the grocery giant that owns Ralphs and Food 4 Less, said it sometimes struggles to attract cash-strapped customers.

    “We’re seeing a split across income groups,” interim Kroger Chief Executive Ron Sargent said on a company earnings call early this month. “Middle-income customers are feeling increased pressure. They’re making smaller, more frequent trips to manage budgets, and they’re cutting back on discretionary purchases.”

    People leave Ralphs with their groceries in West Hollywood.

    People leave Ralphs with their groceries in West Hollywood.

    (Juliana Yamada / Los Angeles Times)

    Kroger lowered the top end of its full-year sales forecast after reporting mixed third-quarter earnings this month.

    On a Ralph Lauren earnings call last month, CEO Patrice Louvet said its brand has benefited from targeting wealthy customers and avoiding discounts.

    “Demand remains healthy, and our core consumer is resilient,” Louvet said, “especially as we continue … to shift our recruiting towards more full-price, less price-sensitive, higher-basket-size new customers.”

    Investors have noticed the split as well.

    The stock charts of the companies behind the two Ralphs also resemble a K. Shares of Ralph Lauren have jumped 37% in the last six months, while Kroger shares have fallen 13%.

    To attract increasingly discerning consumers, Kroger has offered a precooked holiday meal for eight of turkey or ham, stuffing, green bean casserole, sweet potatoes, mashed potatoes, cranberry and gravy for about $11 a person.

    “Stretch your holiday dollars!” said the company’s weekly newspaper advertisement.

    Signs advertising low prices are posted at Ralphs.

    Signs advertising low prices are posted at Ralphs.

    (Juliana Yamada / Los Angeles Times)

    In the Ralph Lauren on Rodeo Drive, sunglasses and polo shirts were displayed without discounts. Twinkling lights adorned trees in the store’s entryway and employees offered shoppers free cookies for the holidays.

    Ralph Lauren and other luxury stores are taking the opposite approach to retailers selling basics to the middle class.

    They are boosting profits from sales of full-priced items. Stores that cater to high-end customers don’t offer promotions as frequently, Klowden of the Milken Institute said.

    “When the luxury stores are having sales, that’s usually a larger structural symptom of how they’re doing,” he said. “They don’t need to be having sales right now.”

    Jerry Nickelsburg, faculty director of the UCLA Anderson Forecast, said upper-income earners are less affected by inflation that has driven up the price of everyday goods, and are less likely to hunt for bargains.

    “The low end of the income distribution is being squeezed by inflation and is consuming less,” he said. “The upper end of the income distribution has increasing wealth and increasing income, and so they are less affected, if affected at all.”

    The Andersons on Rodeo Drive also picked up presents at Gucci and Dior.

    “We’re spending around the same as last year,” John Anderson said.

    At Ralphs, Beverly Grove resident Mel, who didn’t want to share her last name, said the grocery store needs to go further for its consumers.

    “I am 100% trying to spend less this year,” she said.

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    Caroline Petrow-Cohen

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  • Ozempic Spells Trouble for the U.S. Economy—With 5 Exceptions

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    The effects of Ozempic on grocery spending are obvious; the Harvard Business Review found GLP-1 households are spending up to 8 percent less on food. The restaurant industry is suffering, too. Food and Wine warns that the Ozempic effect is “rewriting the rules of dining out.” But the food and dining categories are just the first victims of Ozempic.

    Twelve percent of the U.S. population has taken GLP-1s at one time or another, with the number rising to 20 percent of women 50-64.  In September, a pill form was introduced, which will undoubtedly increase adoption.

    Science is finding that in addition to curbing food cravings, addictions to opioids, alcohol, and nicotine may be treatable with these compounds.

    That’s good news for human health. What isn’t getting nearly enough attention, though, is what happens more broadly—beyond food, smoking, substance abuse—when those hormones are suppressed?

    Disaster.

    The “Impulse Economy” is under siege

    Marketers have spent decades getting exquisitely good at creating and monetizing tiny bursts of desire. They are black belts in provoking dopamine release, whether consumers are clicking or scrolling, or getting triggered at the checkout by the cornucopia of impulse purchases. Or being seduced by in-game sports betting.

    This emotional manipulation is what powers the consumer economy—which makes up almost 68 percent of U.S. GDP.

    But that emotional need is being threatened by the current wave of GLP-1 weight-loss drugs.

    Researchers are now noting that, in addition to curbing food, alcohol, and drug cravings, GLP-1 drugs also appear to broadly target the brain’s dopamine reward system, which creates anticipation and the impulse to go after something—or spend money on something.

    This can be a punch in the gut to brands. While many discretionary consumer categories are likely to be threatened, it is the most dopamine-driven sectors that will be at heightened risk. You know who they are. Businesses like Fan Duel, Starbucks, the temptations at Costco, the beauty haul at Sephora—these are all powered by dopamine cravings.

    So too is the world of direct-to-consumer brands that are successfully turning thumb-stopping into immediate purchase.

    A quick look at some basic brain science explains everything.

    The billions that are being spent in the non-essential “impulse economy” are the beneficiaries of System One, the so-called fast brain, our more instinctive, quick-turn mechanism.

    When System One is blunted, System Two—the slow brain, the more thoughtful and considered processing operation—takes over.  

    Here are some quotes from Reddit that capture the GLP-1 effect. There are many others, and they all should be unsettling to the dopamine harvesters out there:

    “I found that it actually stopped my shopping impulses, doom scrolling, and any of the other unwanted dopamine-seeking activities,” wrote one user.

    From another user: “Came here to mention how much less shopping I’ve been doing! I still go to websites and look at stuff, even add some to my cart, but then I just… don’t feel the need to check out. Very unexpected, but it’s definitely saving me money!”

    As GLP-1 drugs are being researched for more and more conditions—like cognitive decline, neurodegenerative diseases, cardiovascular disease, and others—millions more will have this Reddit reaction.

    Master the slow brain

    You can’t reignite the craving circuits GLP-1s dampen. Biology now outranks branding on that axis. But marketers can tap the pathways GLP-1s don’t blunt. 

    Here are five areas where businesses can still succeed in an Ozempic-ruled world.

    Identity still matters. People buy to express who they are—or who they want to be. That circuit is intact.

    Ritual still works. GLP-1 drugs weaken impulses, not routine. Daily and weekly anchors can replace sugar-rush consumption.

    Status endures. Social identity and signaling rely on different neural systems than craving.

    Sensory experience is still craveable. Texture, aroma, temperature, sound—sensory design taps pathways outside the dopamine loop.

    Goals and completion are still deeply satisfying. Motivation tied to progress, tracking, achievement, and self-improvement is strong and unaltered.

    In short, brands relying on impulsivity will struggle with GLP-1. Brands that reroute desire into underlying psychological truths can thrive.

    A five-point plan for marketing to muted desire

    Build on the slow brain hacks described above with these techniques.

    Don’t run from logic. Marketers have spent decades focusing on emotional versus rational drivers.  GLP-1 allows space for the logical, so make sure your marketing narrative responds accordingly.  With craving dialed down, the rational brain gets a bigger share of the vote.

    Simplify choice. A cooler dopamine baseline has less tolerance for clutter and SKU overload. This also has graphic and aesthetic applications—give the brain a visually calm resting place.  

    Design rituals, not jolts. The comfort of habit can replace the reward loop of impulse and become a dependable driver of repeat behavior. Higher levels of dopamine drive consumers to seek novelty, which leads to brand switching. Lower levels can actually make brands stickier and generate loyalty.

    Don’t be pushy. The fast brain is wired for quick decisions; it doesn’t mind being pushed and rushed. FOMO works with System One. The slow brain likes to think things over, to mull. GLP-1 consumers will appreciate a less in-your-face selling ecosystem.

    Invest in confidence. In a new world where immediacy is replaced by contemplation, make sure your brand delivers on that extended marketing moment. That could mean using third-party experts to add reinforcement and credibility. Real authority versus superficial influencer hype. Extending your guarantee to de-risk the purchase is also slow brain candy.

    Neurochemical quieting may be the biggest unmodeled demand shock in decades.

    What happens when the American shopper becomes less temptable? When the internal amplifier that turns tiny stimuli into potent urges gets turned to a lower setting?

    We’re about to find out.

    The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

    The final deadline for the 2026 Inc. Regionals Awards is Friday, December 12, at 11:59 p.m. PT. Apply now.

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    Adam Hanft

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  • Opinion | When Irish Eyes Are Glaring

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    Tensions with the U.S. will heighten under the new left-wing president.

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    Robert C. O’Brien

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  • Why Consumers Say They’re Planning to Cut Back on Holiday Spending This Year

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    With the holiday season fast approaching, American companies are gearing up for an end-of-year spending splurge that will hopefully close out 2025 on a high note. After all, the period that covers Thanksgiving and Black Friday through to New Year’s usually brings with it a nearly trillion-dollar burst of consumer spending—which should be a welcome reprieve from a year that has seen many businesses struggling to navigate an ever-changing slate of tariffs.

    But that fourth-quarter boost may prove underwhelming this year, at least if consumers’ predictions about their own spending habits are to be trusted. In a new survey of more than 1,000 American adults—conducted in late September by the market research firm HarrisX, and including questions developed by Inc.—40 percent of respondents said they anticipate their holiday gift budget will be smaller than it was last year. That’s compared to 21 percent who expect it to grow, and another 32 percent who expect it to stay more or less the same.

    That hesitancy is more pronounced among women than men—with 44 percent of women anticipating less spending versus 35 percent of men—and grows steeper with age, rising from 27 percent in Gen Z all the way up to 51 percent in the Silent Generation, and increasing with each successive age cohort.

    “Men seem to be having the high time of it, and women seem to be really concerned about the economy,” said Mark Penn, chairman and CEO of Stagwell, the parent company behind HarrisX. “It is really kind of a tale of two cities.”

    That may partially be a reflection of partisan differences between men and women, he added, as Democrats tend to be more pessimistic about the economy than Republicans, and women are leaning increasingly liberal.

    The upshot for retailers prepping for the holiday gift season? Put the men’s items closer to the front of the stores, Penn suggests, and move the women’s clothing a bit further back.

    The HarrisX polling found that those gendered dynamics extend beyond just Christmas gifts, too. When asked whether their personal financial situation had gotten better or worse over the last six months, 42 percent of men said things have gotten better (versus 30 percent saying worse), whereas among women, the split was 20 percent better and 38 percent worse.

    Overall, though, there’s a level of ambivalence in the polling data. When asked about how their overall household spending has changed in the past six months, 29 percent of respondents said it has increased and 29 percent said it has decreased. The remaining 42 percent reported that their habits have pretty much stayed the same.

    “This poll reflects neither euphoria nor dejection,” Penn said. “It’s actually sort of in the middle of things. Americans remain somewhat pessimistic about the economy, but they’ve been that way for a very long time.”

    For those who said they’ve spent more, the leading reason why was a “desire to enjoy life/spend more in the present” (23 percent)—while more than half of those who reported decreasing their spending blamed it on inflation.

    Yet in almost every specific bucket of spending that the poll asked respondents about—restaurants, clothes, consumer tech, entertainment and travel—more respondents said their household had cut back on spending over the last six months than the number who reported having increased it. Only for groceries did more respondents raise their budgets (37 percent) rather than shrink them (20 percent)–which makes sense given that the steepest cuts of all were to dining out, which 47 percent of respondents said they’ve reduced.

    Indeed, 55 percent of survey respondents said they’ve swapped out some of their usual product purchases for cheaper alternatives over the last six months—and 31 percent anticipate reducing household spending over the next six months, versus 20 percent expecting to increase it.

    Travel is the vertical for which the largest chunk of respondents, 48 percent, said they plan to cut spending going forward, while groceries was again the only category for which more people are planning to increase spending over the next six months (30 percent) than decrease it (22 percent).

    Penn cautioned that respondents’ predictions about their future spending behavior may be a better indicator of how they feel about the current economy, rather than what they’ll actually do in the future.

    “They don’t really know how they’re going to feel six months from now,” he says. “Six months in the American economy is a long time. In six months, we could be in a recession or we could be doing 3 percent growth and [have] lower interest rates.”

    The HarrisX poll also asked respondents about a few different policy areas which Inc. has been covering in recent months. Among those were President Trump’s recent tax and domestic policy package (AKA the “Big Beautiful Bill”), which 39 percent of respondents said has made their household financially worse off, versus 24 percent saying better off; the cryptocurrency-regulating Genius Act, which 57 percent of respondents said they were unaware of; and employee stock ownership, with 65 percent of respondents saying they’d be interested in getting paid partially with equity in their employer.

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    Brian Contreras

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  • Fee-based credit cards come with perks—but they aren’t for everyone – MoneySense

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    Choosing the right credit card for your stage in life

    Credit cards that come with more perks and benefits are likely to carry an annual fee, which can be as high as $799. Most credit cards on the market though have fees closer to $120 per year, she said. 

    Macmillan said consumers need to look at where they are in their lives when applying for a credit card. For students and young adults, she recommended looking into a no-fee card, which can help build your credit score without the added expense of a fee. Macmillan said secured credit cards—which require a cash deposit—work great for people building or rebuilding their credit scores. These cards are more accessible compared with other kinds of credit cards and don’t carry a monthly or yearly fee.

    For an early-career individual or a young professional who may have a better grasp on their spending habits, a fee-based credit card could help unlock perks that align with their lifestyle, Macmillan said.

    But it’s important to do the math beforehand, said Melissa Leong, author of Happy Go Money. “Write down numbers. Write down the annual fee, maybe figure out the earn rate,” she said. The earn rate is the percentage or number of rewards you get for every dollar spent on the card.

    Leong said if a credit card requires a minimum spending threshold to access its perks and it’s encouraging you to spend when you otherwise might not have, then it may not be right for you. “You’re trying to align the card to your life, not the other way around,” she said.

    Featured travel credit cards

    Premium cards can pay off—if you use them wisely

    Understanding your annual spending habits is key when applying for a fee-based credit card, said Jessica Morgan, founder and CEO of financial blog site Canadianbudget.ca. There are rules to earning rewards, she said. Some may offer higher rewards for spending money at a gas station, while others may have better perks for those who eat at restaurants often or travel avidly. “If those are categories that you are frequently spending in, then it might make sense to look at cards that align with that level of spending,” Morgan said.

    Macmillan said cards with an annual fee typically offer higher reward rates, but they only make sense if you aren’t carrying debt. “The premium credit cards usually work best for individuals who use their credit cards often, who pay their credit card balances in full each month,” she said. They’re also only worth it if you’re using the perks.

    With the higher cost of living nowadays though, more people have been opting for cash back credit cards because it can help offset daily expenses, Macmillan said.

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    Leong likened fee-based credit cards to subscriptions, suggesting people set a calendar reminder ahead of the yearly fee renewal to assess whether it’s still worth the extra money. “Ask yourself a couple of questions: Did I use the perks it provides? Is it worth the value for the fee? And do I carry a balance?” she said.

    Often, people think they’re going to use the perks of a fee-based card, but that doesn’t always happen. Leong said if people haven’t used the perks by the time the yearly fee renews, it’s unlikely that’s going to happen after the renewal.

    Focus on paying down balances before chasing rewards

    For those carrying a balance, Leong said the perks shouldn’t be a priority. Instead, they should opt for a low-rate, no-fee card and curb new spending until the balance is paid off.

    Many Canadians carry multiple credit cards. Morgan said having multiple can give a bit more flexibility and backup. And if those cards are free, there’s no added cost. However, she warned not to apply for multiple credit cards at once because it can affect your credit score.

    “Just be mindful of how frequently you’re applying for different cards,” Morgan said. “The best way to get the benefit of any credit card is to not have to pay any interest on it.”

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    The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

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  • The Trump loyalist who picked up where Musk left off with slashing federal workforce: ‘We’re having fun’

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    It has been four months since Elon Musk, President Trump’s bureaucratic demolition man, abandoned Washington in a flurry of recriminations and chaos.

    But the Trump administration’s crusade to dismantle much of the federal government never ended. It’s merely under new management: the less colorful but more methodical Russell Vought, director of Trump’s Office of Management and Budget.

    Vought has become the backroom architect of Trump’s aggressive strategy — slashing the federal workforce, freezing billions in congressionally approved spending in actions his critics often call illegal.

    Now Vought has proposed using the current government shutdown as an opportunity to fire thousands of bureaucrats permanently instead of merely furloughing them temporarily. If any do return to work, he has suggested that the government need not give them back pay — contrary to a law Trump signed in 2019.

    Those threats may prove merely to be pressure tactics as Trump tries to persuade Democrats to accept spending cuts on Medicaid, Obamacare and other programs.

    But the shutdown battle is the current phase of a much larger one. Vought’s long-term goals, he says, are to “bend or break the bureaucracy to the presidential will” and “deconstruct the administrative state.”

    He’s still only partway done.

    “I’d estimate that Vought has implemented maybe 10% or 15% of his program,” said Donald F. Kettl, former dean of the public policy school at the University of Maryland. “There may be as much as 90% to go. If this were a baseball game, we’d be in the top of the second inning.”

    Along the way, Vought (pronounced “vote”) has chipped relentlessly at Congress’ ability to control the use of federal funds, massively expanding the power of the president.

    “He has waged the most serious attack on separation of powers in American history,” said Elaine Kamarck, an expert on federal management at the Brookings Institution.

    He’s done that mainly by using OMB, the White House office that oversees spending, to control the day-to-day purse strings of federal agencies — and deliberately keeping Congress in the dark along the way.

    “If Congress has given us authority that is too broad, then we’re going to use that authority aggressively,” Vought said last month.

    Federal judges have ruled some of the administration’s actions illegal, but they have allowed others to stand. Vought’s proposal to use the shutdown to fire thousands of bureaucrats hasn’t been tested in court.

    Vought developed his aggressive approach during two decades as a conservative budget expert, culminating in his appointment as director of OMB in Trump’s first term.

    In 2019, he stretched the limits of presidential power by helping Trump get around a congressional ban on funding for a border wall, by declaring an emergency and transferring military funds. He froze congressionally mandated aid for Ukraine, the action that led to Trump’s first impeachment.

    Even so, Vought complained that Trump had been needlessly restrained by cautious first-term aides.

    “The lawyers come in and say, ‘It’s not legal. You can’t do that,’” he said in 2023. “I don’t want President Trump having to lose a moment of time having fights in the Oval Office over whether something is legal.”

    Vought is a proponent of the “unitary executive” theory, the argument that the president should have unfettered control over every tentacle of the executive branch, including independent agencies such as the Federal Reserve.

    When Congress designates money for federal programs, he has argued, “It’s a ceiling. It is not a floor. It’s not the notion that you have to spend every dollar.”

    Most legal experts disagree; a 1974 law prohibits the president from unilaterally withholding money Congress has appropriated.

    Vought told conservative activists in 2023 that if Trump returned to power, he would deliberately seek to inflict “trauma” on federal employees.

    “We want the bureaucrats to be traumatically affected,” he said. “When they wake up in the morning, we want them to not want to go to work.”

    When Vought returned to OMB for Trump’s second term, he appeared to be in Musk’s shadow. But once the flamboyant Tesla chief executive flamed out, the OMB director got to work to make DOGE’s work the foundation for lasting changes.

    He extended many of DOGE’s funding cuts by slowing down OMB’s approval of disbursements — turning them into de facto freezes.

    He helped persuade Republicans in Congress to cancel $9 billion in previously approved foreign aid and public broadcasting support, a process known as “rescission.”

    To cancel an additional $4.9 billion, he revived a rarely used gambit called a “pocket rescission,” freezing the funds until they expired.

    Along the way, he quietly stopped providing Congress with information on spending, leaving legislators in the dark on whether programs were being axed.

    DOGE and OMB eliminated jobs so quickly that the federal government stopped publishing its ongoing tally of federal employees. (Any number would only be approximate; some layoffs are tied up in court, and thousands of employees who opted for voluntary retirement are technically still on the payroll.)

    The result was a significant erosion of Congress’ “power of the purse,” which has historically included not only approving money but also monitoring how it was spent.

    Even some Republican members of Congress seethed. “They would like a blank check … and I don’t think that’s appropriate,” said former Senate Republican Leader Mitch McConnell (R-Ky.).

    But the GOP majorities in both the House and Senate, pleased to see spending cut by any means, let Vought have his way. Even McConnell voted to approve the $9-billion rescission request.

    Vought’s newest innovation, the mid-shutdown layoffs, would be another big step toward reducing Congress’ role.

    “The result would be a dramatic, instantaneous shift in the separation of powers,” Kettl said. “The Trump team could kill programs unilaterally without the inconvenience of going to Congress.”

    Some of the consequences could be catastrophic, Kettl and other scholars warned. Kamarck calls them “time bombs.”

    “One or more of these decisions is going to blow up in Trump’s face,” she said.

    “FEMA won’t be capable of reacting to the next hurricane. The National Weather Service won’t have the forecasters it needs to analyze the data from weather balloons.”

    Even before the government shutdown, she noted, the FAA was grappling with a shortage of air traffic controllers. This week the FAA slowed takeoffs at several airports in response to growing shortages, including at air traffic control centers in Atlanta, Houston and Dallas-Fort Worth.

    In theory, a future Congress could undo many of Vought’s actions, especially if Democrats win control of the House or, less likely, the Senate.

    But rebuilding agencies that have been radically shrunken would take much longer than cutting them down, the scholars said.

    “Much of this will be difficult to reverse when Democrats come back into fashion,” Kamarck said.

    Indeed, that’s part of Vought’s plan.

    “We want to make sure that the bureaucracy can’t reconstitute itself later in future administrations,” he said in April in a podcast with Charlie Kirk, the conservative activist who was slain on Sept. 10.

    He’s pleased with the progress he’s made, he told reporters in July.

    “We’re having fun,” he said.

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  • Orlando, Orange County push back on DOGE wasteful spending accusations

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    548. SEE YOU GUYS THEN. SEE YOU THEN. TONY. ALL RIGHT. THE STATE DOSE TEAM CONTINUES TO TARGET WHAT THEY CALL WASTEFUL SPENDING BY CITIES AND COUNTIES. ORLANDO IS TAKING THE LATEST HIT FROM REPUBLICAN LEADERSHIP. BUT AS WESH TWO NEWS POLITICAL REPORTER GREG FOX EXPLAINS, THE STATE IS LEAVING OUT KEY INFORMATION. ROSES ARE RED, VIOLETS ARE BLUE. OUR PROPERTY TAXES ARE HIGH BECAUSE OF YOU. USING RHYME AND METER, REPUBLICAN CHIEF FINANCIAL OFFICER BLAISE INGOGLIA BLASTED SPENDING IN THE CITY OF ORLANDO DURING THE PAST TWO MONTHS, THE CFO AND STATE DOSAGE TEAM HAVE BEEN REVIEWING SPENDING IN THE CITY AND IN ORANGE COUNTY. THEY FLAGGED SEVERAL PROGRAMS, INCLUDING $460,000 SPENT COUNTING TREES, $150,000 SPENT ON ASSISTANCE FOR UNDOCUMENTED IMMIGRANTS, $67,500 OVER FIVE YEARS FOR HOT YOGA CLASSES, AND $6,000 ANNUALLY FOR A POET LAUREATE. THE PEOPLE KEEP ASKING, WHERE DOES IT GO? THE COFFERS RUN EMPTY, YET TAXES STILL GROW IN THE HALLS OF THE CITY. ONE LESSON IS CLEAR WASTEFUL SPENDING ECHOES YEAR AFTER YEAR. I CAUGHT UP WITH MAYOR BUDDY DYER AND HE SAYS THE CHIEF FINANCIAL OFFICER MAY HAVE WANTED TO DO A LITTLE MORE HOMEWORK BEFORE MAKING HIS REMARKS. IT’S ALL POLITICS. IT SHOULD BE BENEATH THEM. MAYOR DYER EXPLAINED THAT THE YOGA PROGRAM IS PART OF EMPLOYEE HEALTH AND WELLNESS, AND THE ASSERTION THAT THE CITY IS WASTING TAXPAYER MONEY. COUNTING TREES DOESN’T HOLD WATER. ACCORDING TO THE MAYOR, BECAUSE THE PROGRAM OF ENSURING THE HEALTH OF THE CITY’S TREE CANOPY ISN’T FUNDED WITH LOCAL TAX DOLLARS, STATE AND FEDERAL FUNDING. AND WE HAVE A TREE TRUST FUND WHERE IF YOU TAKE DOWN A TREE, YOU’VE GOT TO PAY INTO IT. SO NO GENERAL FUND RELATED TO THAT. SO THEY DIDN’T DIG VERY DEEP IN TERMS OF THEIR ANALYSIS AND CRITICIZING MONEY SPENT ON THE CITY’S POET LAUREATE. SEAN, WELCOME. DURING THE PAST FOUR YEARS, THE MAYOR POINTS OUT IT WAS MODELED AFTER THE STATE’S POET LAUREATE PROGRAM THAT’S BEEN AROUND FOR NEARLY A CENTURY, AND MONEY THAT GOES TO THE ORLANDO CENTER FOR JUSTICE TO ASSIST THOSE WITH IMMIGRATION CASES IS NOT FROM THE GENERAL FUND, BUT THROUGH GRANTS. RESPONDING TO CONTINUED CRITICISM FROM THE CFO ABOUT ORANGE COUNTY SPENDING, MAYOR JERRY DEMINGS RELEASED A STATEMENT SAYING ORANGE COUNTY TAKES ITS RESPONSIBILITY TO TAXPAYERS SERIOUSLY, AND WE STAND BY THE INVESTMENTS WE MAKE IN OUR COMMUNITY COVERING ORANGE COUNTY. GREG FOX, WESH TWO NEWS. THE STATE HAS GIVEN NO TIMETABLE ON WHEN THEY

    Orlando, Orange County push back on DOGE wasteful spending accusations

    Updated: 6:56 PM EDT Oct 2, 2025

    Editorial Standards

    “Roses are red, violets are blue. Our property taxes are high because of you,” Florida Chief Financial Officer Blaise Ingoglia said during a Jacksonville news conference. The Republican used rhyme and meter to blast spending in the city of Orlando and Orange County, spending on programs that conservative leadership in Tallahassee considers wasteful and unnecessary. During the past two months, the CFO and state DOGE team have been reviewing spending in the city and county. Ingoglia flagged several programs in Orlando, including $460,000 spent “counting” trees, $150,000 spent on assistance for undocumented immigrants, $67,500 over five years for hot yoga classes and $6,000 annually for a poet laureate. Focusing on the poet laureate, Ingoglia said, “The people keep asking, where does it go? The coffers run empty, yet taxes still grow. In the halls of the city, one lesson is clear: wasteful spending echoes year after year.” WESH 2 News talked with Orlando Mayor Buddy Dyer, who said the CFO may not have done all the homework he should have before making his remarks, with Dyer adding, “It’s all politics. It should be beneath them.”Dyer explained that the yoga program is part of employee health and wellness, which is encouraged in cities and counties across the country. The assertion that the city is wasting taxpayer money counting trees doesn’t hold water, according to the mayor, because the program of ensuring the health of the city’s tree canopy isn’t funded with tax dollars, with Dyer adding, “That’s funded with state and federal grants. It is a State Department of Agriculture program that we’re doing, and we have a tree trust fund that, when you take down a tree, you have to pay into it. So there is no general fund in that. So they didn’t dig very deep in terms of their analysis.” Addressing the money spent on the city’s poet laureate, who has been Shawn Welcome during the past four years, the mayor points out that it was modeled after the state’s poet laureate program, that’s been around since 1927.It’s worth noting that the state does not pay a stipend to the poet laureate. Orlando had been paying less annually, but for the new poet laureate named this month, the annual stipend will amount to $6,000, up from $4,000 annually for Welcome. And money that goes to the Orlando Center for Justice, to assist those with immigration cases, is not from the general fund, but through grants. Responding to continued criticism from the CFO about Orange County spending, Mayor Jerry Demings released a statement saying, “Orange County takes its responsibility to taxpayers seriously, and we stand by the investments we make in our community.”

    “Roses are red, violets are blue. Our property taxes are high because of you,” Florida Chief Financial Officer Blaise Ingoglia said during a Jacksonville news conference.

    The Republican used rhyme and meter to blast spending in the city of Orlando and Orange County, spending on programs that conservative leadership in Tallahassee considers wasteful and unnecessary.

    During the past two months, the CFO and state DOGE team have been reviewing spending in the city and county.

    Ingoglia flagged several programs in Orlando, including $460,000 spent “counting” trees, $150,000 spent on assistance for undocumented immigrants, $67,500 over five years for hot yoga classes and $6,000 annually for a poet laureate.

    Focusing on the poet laureate, Ingoglia said, “The people keep asking, where does it go? The coffers run empty, yet taxes still grow. In the halls of the city, one lesson is clear: wasteful spending echoes year after year.”

    WESH 2 News talked with Orlando Mayor Buddy Dyer, who said the CFO may not have done all the homework he should have before making his remarks, with Dyer adding, “It’s all politics. It should be beneath them.”

    Dyer explained that the yoga program is part of employee health and wellness, which is encouraged in cities and counties across the country.

    The assertion that the city is wasting taxpayer money counting trees doesn’t hold water, according to the mayor, because the program of ensuring the health of the city’s tree canopy isn’t funded with tax dollars, with Dyer adding, “That’s funded with state and federal grants. It is a State Department of Agriculture program that we’re doing, and we have a tree trust fund that, when you take down a tree, you have to pay into it. So there is no general fund in that. So they didn’t dig very deep in terms of their analysis.”

    Addressing the money spent on the city’s poet laureate, who has been Shawn Welcome during the past four years, the mayor points out that it was modeled after the state’s poet laureate program, that’s been around since 1927.

    It’s worth noting that the state does not pay a stipend to the poet laureate. Orlando had been paying less annually, but for the new poet laureate named this month, the annual stipend will amount to $6,000, up from $4,000 annually for Welcome.

    And money that goes to the Orlando Center for Justice, to assist those with immigration cases, is not from the general fund, but through grants.

    Responding to continued criticism from the CFO about Orange County spending, Mayor Jerry Demings released a statement saying, “Orange County takes its responsibility to taxpayers seriously, and we stand by the investments we make in our community.”

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  • Wall Street billionaire sends one-word AI warning

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    Artificial intelligence may seem like a new concept, but it’s fascinated technologists, inventors, and science fiction buffs for decades.

    The mathematician and computer scientist Alan Turing contemplated AI computers in the 1950s, and Rand Corp. built the first AI program in 1956. Isaac Asimov wrote “I, Robot” in 1950, and movie director James Cameron’s “The Terminator” was released in 1984.

    However, it wasn’t until OpenAI’s ChatGPT launched in November 2022 that AI went mainstream. ChatGPT was the fastest app to reach 1 million users, and its widespread embrace kicked off a torrent of AI research and development, including from some of the biggest companies on the planet.

    • Meta Platforms: $17.01 billion.

    • Alphabet: $22.4 billion.

    • Microsoft: $24.2 billion ($17.1 billion excluding finance leases).

    • Amazon: $31.4 billion.

      Source: Company SEC filings.

    The money being spent is undeniably eye-popping, and CEO’s believe it’s necessary, including OpenAI’s Sam Altman, who recently said:

    You should expect OpenAI to spend trillions of dollars.

    The stakes are high and have caught the eye of investors, including Wall Street billionaire David Einhorn. Einhorn is the portfolio manager behind Greenlight Capital, a hedge fund with $2.3 billion in assets under management.

    Einhorn recently commented on the AI spending frenzy, and given his 30+ years on Wall Street, investors may want to consider his opinion.

    David Einhorn delivered a stark warning on the recent surge in AI spending.Bloomberg/Getty Images

    Companies are slated to spend between $500 billion and $1 trillion a year on the nuts-and-bolts necessary to support artificial intelligence.

    Much of that money is being spent on data centers equipped with super-fast next-generation graphic processing unit (GPU) chips from Nvidia, which are much better suited to handling the compute-heavy workloads associated with training and operating AI chatbots and agentic AI programs.

    Related: Bank of America revamps Palantir stock price target

    Those programs are data intensive, requiring significant upgrades to preexisting network servers and switches connecting them. As a result, the spending has been a boon not only for Nvidia, which controls 90% of the AI GPU market, but makers of servers, like Dell and Supermicro, memory chips, like Micron, and storage, including Seagate.

    Today’s action is reminiscent of the flood of IT spending in the late 1990s, at the dawn of the Internet.

    That’s worrisome to Einhorn, who described the sheer size of the dollars earmarked for AI with one word: “Extreme.”

    “The numbers that are being thrown around are so extreme that it’s really, really hard to understand them,” said Einhorn in Simplify Asset Management panel.

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  • Tariffs, government spending, gas prices—what’s driving inflation right now? – MoneySense

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    Here’s what you need to know about the state of inflation in Canada.

    A modest increase in inflation leaves policy-makers focused on the bigger picture

    Statistics Canada says the annual rate of inflation came in at 1.9% in August, up from 1.7% in July. The Bank of Canada is responsible for maintaining price stability in Canada and sets a target of 2% for annual inflation.

    “I mean, 1.9% is actually pretty good,” said Mostafa Askari, chief economist at the Institute of Fiscal Studies and Democracy and the University of Ottawa. Askari said a brief month-to-month increase in inflation isn’t much to worry about on its own. He said policy-makers should watch trends over six months or longer before reacting to movement in price figures.

    Canadians see relief at the pumps and in mortgages, but food prices stay sticky

    Randall Bartlett, deputy chief economist at Desjardins, said the big factor easing inflation right now is the termination of the consumer carbon price. `Because the carbon levy was in place for consumers in 2024, the Liberals’ move to end the policy in April has meant lower prices at the gas pumps in recent months, skewing data in the year-over-year comparisons.

    Shelter inflation is also diminishing as the pace of population growth slows, easing competition for apartments and reducing rent prices in many cities. Canadians shopping for a new mortgage today are also seeing rates closer to 4% on a five-year fixed loan. Rates were well over 5% this time last year.

    One area where consumers are still feeling the pinch is food inflation, which StatCan pegged at 3.4% in August. That rate is still well below the double-digit yearly gains seen during the height of the inflationary period of a few years ago.

    Askari said consumers are feeling the cumulative impact of years of inflation pushing prices higher, particularly at the grocery store. Prices tend to rise quickly on the way up but are “sticky” on the way down, if they ease at all, he said.

    You’re 2 minutes away from getting the best mortgage rates.

    Answer a few quick questions to get a personalized quote, whether you’re buying, renewing or refinancing.

    Tariffs and weather shifts keep food prices volatile, but inflation relief is on the horizon

    Another force affecting grocery inflation is Canada’s retaliatory tariffs against the United States. Some counter tariffs—which are paid by Canadian firms importing U.S. goods—were imposed on inputs for manufactured products and are baked into the final cost of a good or absorbed into a company’s margins.

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    Those costs show up more readily in perishable goods bought at the grocery store, like Florida orange juice. But fresh food prices are also vulnerable to shifts in weather and growing conditions around the world. Askari said this makes it difficult to say with absolute certainty how much price hikes are tied to tariff impacts.

    Canada dropped most of its retaliatory tariffs on the United States at the start of the month. Combined with the elimination of the consumer carbon price, Bartlett expects the end of counter tariffs will leave headline inflation a full percentage point lower in 2026 than it would have been with those two policies in place. But he also expects previous impacts from counter tariffs will persist in the inflation readings for September and gradually fade through the rest of the year.

    Deficit spending isn’t always inflationary; context matters, experts argue

    Conservative Leader Pierre Poilievre has accused the federal government of running deficits that fuel inflation. “Deficits drive up inflation, grocery prices, housing costs, and interest rates,” he said in question period on Sept. 17. Experts say the impact of federal spending on inflation is less clear than that.

    Askari said that when government spending results in more money in the pockets of Canadians or businesses, it drives up spending demand in the economy. More demand, without an associated boost in supply, can drive up inflation.

    When government spending is aimed at increasing supply, however—by expanding the stock of housing, for example—that can take pressure out of inflation, Askari said. “In principle, deficit spending could put pressure on prices. Calling every government spending inflationary is not correct,” he said.

    Canada’s economy contracted in the second quarter, and most economists expect a modest recovery to start in the third quarter. Bartlett said this reflects an economy that’s operating below its potential—there’s slack in the economy, in other words—so a bit of fiscal stimulus could “shore up” the economy without triggering a sharp spike in inflation.

    There are limits, however. Bartlett said the size of the deficit the federal Liberals have telegraphed is coming in the upcoming fall budget may, in fact, be higher than warranted, given the state of the economy. Ottawa’s planned capital investments could be inflationary in the near-term if they lead to a surge in demand for construction labour and materials, Bartlett said.

    But those same spending plans could take steam out of inflation in the future if they help to boost productivity in the economy in the medium or longer term, he added. “The proof in the pudding is going to be in the tasting, in terms of how effective this infrastructure investment is,” Bartlett said.

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  • Burke County sets new record for visitor spending despite Hurricane Helene impact

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    Burke County has set a new record for visitor spending, reaching $154.26 million in 2024, marking an 11.9% increase from the previous year.

    According to a release from the county, this growth represents the second highest percentage increase in visitor spending among North Carolina counties.

    The data, commissioned by VisitNC, highlights Burke County’s significant growth in tourism despite challenges faced by the region, including the impact of Hurricane Helene.

    ALSO READ >> Burke County launches group to prepare for natural disasters

    Ed Phillips, CEO of the Burke County Tourism Development Authority, noted a 71% increase in visitors to the county’s Visitor Center from January to September 2024, alongside strong hotel demand and rising rates.

    “The study confirms the strength of North Carolina’s tourism industry,” Wit Tuttell, executive director of Visit NC, said.

    Tourism in Burke County directly employed over 931 individuals in 2024, reflecting a 7.6% increase from the previous year, which was also the second highest growth rate in the state.

    The study shows the total payroll generated by the tourism industry in Burke County amounted to $32.8 million.

    State tax revenue from tourism in Burke County reached $5.86 million, while local taxes generated $4.6 million from travel-related businesses.

    Despite the disruptions caused by Hurricane Helene, Burke County’s hospitality businesses experienced less damage compared to other nearby destinations.

    Statewide, visitor spending in North Carolina rose 3.1% to a record $36.7 billion in 2024, with direct tourism employment increasing to 230,338.

    Visitors to North Carolina generated nearly $4.5 billion in federal, state, and local taxes in 2024, representing a 5.8% increase from 2023.

    As the area continues to recover, county leaders say its tourism sector remains a crucial contributor to the local economy and workforce.

    VIDEO: Burke County couple returns home after Helene floodwaters devastate property

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  • How to find a cheap cellphone plan in B.C. – MoneySense

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    In some instances, there are even major price fluctuations occurring with the same carrier. Freedom Mobile, for instance, charges $10 per month for a 100 MB plan, which works out to a whopping $100 per GB, whereas if you go with the company’s 100 GB plan for $59, it works out to $0.59 per GB. That’s a price swing of $99.41 per GB with the same company.

    Determine what kind of phone plan you need

    In evaluating what providers and plans will work for you, considerations include: 

    • Portability: Can you port your existing number to the new carrier?
    • BYOD (bring your own device): Do you intend to use your existing phone, which translates into a lower monthly fee with all carriers, or are you looking to upgrade to a new phone which will bump up your monthly rate?
    • Download speed: Do you want/need 5G, or is 4G or even 3G adequate for your needs?
    • Coverage: Is the plan just for Canada, or does it include the U.S., and in some instances Mexico, as well? And especially important for B.C. residents, how extensive is the coverage in your home province?
    • Pre-payment: Are you OK with committing to regular monthly charges to your bank or credit card in return for a lower rate?
    • New vs. old: Is the advertised monthly rate just for new customers, or does it include existing clients—and how long will it last? 

    Assuming you’re bringing your own phone and are able to keep your existing number, three key questions to ask are: 

    1. How much data do you need? 
    2. Do you need 5G or will 4G suffice? 
    3. How much are you prepared to pay each month?

    Data options range from a barrel-scraping 100 MB with Freedom to 200 GB available through Bell, Rogers, and Telus. If you’re used to downloading movies and watching them on your phone on a regular basis, which can chew up to 7 GB per hour if you’re watching in 4K, then you may be inclined to go with a more robust data plan. 

    Of course, you can save the expense of such a plan by restricting your viewing to times and places you can avail yourself of wifi. Check past bills to see how much you use on a regular basis to give you a clear picture of what you need. 

    Need for speed: 4G vs. 5G

    In terms of navigating the differences between 4G, or fourth-generation, cellular network technology and 5G (as explained on Koodo Mobile’s website), 4G provides download speeds ranging from 20 to 100 Mbps (megabits per second), or up to 30 times its 3G processor, whereas 5G speeds can get up to 250 Gbps (gigabytes per second). Recognizing that 1 Gbps is the equivalent of 1,000 Mbps, 5G speeds could be up to 100 times faster than 4G.  

    So how much speed do you need? In terms of downloading data, Netflix says it only takes 5 Mbps to stream full HD content—a fraction of what 4G brings to the table. So if you want to download a 2 GB two-hour HD movie to watch later, for instance (e.g., while on a flight), according to the handy GIGAcalculator, using 4G at 100 Gbps it takes about three minutes. With 5G at even 150 Gbps it will be done in a blink of an eye. 

    Mobile plan pricing in B.C.

    The average Canadian consumer uses just under 10 GB of data per month, which helps to explain why many of the current cell plans being offered range between three and 80 GB. 

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    At the low end, Freedom charges $25 per month for 3 GB ($8.33 per GB), compared to Virgin ($39 per month, 13 GB) at 5G. Chatr also offers a 3 GB plan at 4G for $25 per month ($8.33). So, less than Virgin and the same as Freedom, but for a slower service.

    If you’re one of those “average” consumers that need 10 GB, Freedom charges $34 per month ($3.40 per GB) for 5G. So, less than half the dollar per GB that it charges when you pay an extra $9 per month while giving yourself an extra 7 GB of data to use. Public Mobile also offers a 10 GB 5G plan for $34 a month. 

    When comparing most service providers, big and small, most plans top out around 80 GB, with both Freedom and Public charging $49 per month ($0.61 per GB). Interestingly enough, Fido’s 80 GB plan costs more: $55 per month ($0.69 per GB) on a slower 4G LTE plan. 

    If your mindset is “bigger is better,” for 100 GB per month of 5G data, Bell charges $75, or $0.75 per GB, compared to Rogers and Telus, which both charge $69, or $0.60 per GB. Both Freedom and Public Mobile also have 100 GB 5G plans for $59 per month ($0.59 per GB). 

    Two other carriers with 100-GB-plus data plans are Chatr Mobile, which charges $55 per month for 100 GB ($0.55 per GB) and Lucky Mobile, which has a 105 GB plan, also for $55 per month ($0.52 per GB). But again, as often is the case with these smaller providers, the plans are tied to 4G, not 5G.

    Double your data to 200 GB and you’re looking at $105 per month with Bell ($0.53 per GB) and $90 per month either with Rogers or Telus ($0.45 per GB), the only current providers with 5G data plans of that size.

    Earning, saving and spending in Canada: A guide for new immigrants

    City or highway?

    Coverage within Canada and more specifically B.C. is something you need to scrutinize, too. According to a study conducted by Whistleout, “Telus has the best overall coverage in the province, but shares much of its network with Bell. Smaller discount carriers (described by industry insiders as “flankers”) such as Koodo and Public Mobile piggyback on the Telus network. 

    But even the best network has its limits. People travelling overland in B.C. have to contend with not only the long distances and empty spaces found elsewhere in Canada but also mountains that obstruct cell signals. According to the B.C. government, the province has 15,000 kilometres of primary and secondary roads. As of 2024, 32% of these roads lack adequate coverage. 

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    Mark Douglas Wessel

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  • MoneyBot5000 Finds Fewer Tax Refunds in 2025-But They’re Bigger Than Before

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    Press Release


    Apr 8, 2025

    Average refund tops $2,600 in 2025, prompting more Americans to seek smarter ways to plan, invest, and grow their financial future.

    In a new study, MoneyBot5000.com, the AI-powered personal finance platform, has uncovered a surprising shift in how many Americans are receiving tax refunds. While the total number of refunds is declining, the average amount has increased, climbing to over $2,600 in 2025-a nearly 2% jump year over year.

    The findings come at a time when many households are seeking to stretch every dollar. MoneyBot5000.com’s study shows the tax refund is no longer just “extra money”-it’s a vital financial moment. And for many, it’s being used to reduce debt, build emergency funds, or kickstart new investments.

    Key Findings from the 2025 Tax Refund Study:

    • Fewer refunds, bigger returns: Refunds dropped by nearly 5%, but the average refund increased to $2,600+, according to IRS data and MoneyBot5000.com analytics​.

    • High-income earners aren’t always winning: Despite higher wages, states like California, New York, and Massachusetts didn’t crack the top 10 in refund averages.

    • State-by-state variation:

      • Wyoming led the nation with an average refund of $9,957, followed by Mississippi ($8,006) and Nevada ($7,829).

      • Alabama came in last with an average refund of $2,821​.

    Tax Refund Strategy, Powered by AI

    To help users make the most of their tax refunds, MoneyBot5000.com offers personalized insights so users can chat with MoneyBot5000.com and walk through their personal financial needs. Whether savings for education, investing for retirement, or paying down debt is top of mind, MoneyBot5000.com can offer ideas that suit your situation in life.

    About MoneyBot5000.com

    MoneyBot5000.com is a cutting-edge personal finance management platform that helps users try to find unclaimed money, manage their finances, and plan for their financial future through AI-powered tools. Designed to simplify money management, MoneyBot5000.com offers personalized financial insights.

    Explore tools at www.MoneyBot5000.com

    Contact Information

    Erin Kemp
    PR & Research Strategist
    erin@moneybot5000.com

    Source: MoneyBot5000

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  • Generation Spend: Why Gen Z is Investing More in Holiday Joy

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    The Harris Poll Survey Highlights Rising Holiday Budgets, Shopping Trends, and AI’s Role in Holiday Prep

    Gen Z’s $1,638 Spending Spree Signals Need for Holiday Joy

    A new study from The Harris Poll reveals that Americans are gearing up to spend more on holiday gifts this year than ever before.

    Gen Z’s Holiday Spending Surge – Despite Financial Anxiety

    Gen Z is leading holiday spending with projected purchases of $1,638 – more than double the Boomer average of $681. However, this spending comes with a psychological cost, as a significant portion of Gen Z reports holiday-related debt anxiety (60%).

    “What we’re witnessing is Gen Z’s determination to create meaningful holiday experiences, despite financial pressures,” says Libby Rodney, Chief Strategy Officer and Futurist at The Harris Poll, “Their willingness to spend more than other generations reflects both their emotional investment in gift-giving and the financial strain it can create.”

    Long Live Malls! Malls Capture the Holiday Spirit

    Physical retail spaces are experiencing a remarkable resurgence among younger generations, with 68% of Gen Z and Millennials considering holiday mall shopping a cherished tradition. This holiday season, 40% are specifically choosing malls as their gift-hunting destination, with 65% reporting that mall shopping actually reduces their holiday-related stress and saves time. The human element plays a crucial role, as 73% of young shoppers say store staff interactions enhance their shopping experience. The mall’s appeal runs particularly deep for Millennials, with 84% embracing the festive atmosphere and nostalgic charm of these retail spaces.

    “What’s particularly striking about our findings is that 65% of young shoppers find mall shopping reduces their holiday stress,” observes Rodney. “This suggests that despite their digital nativity, Gen Z and Millennials crave the structured, experiential nature of physical retail spaces.”

    Holiday Faux Pas on Blast

    The top holiday faux pas ranked. Gen X and Boomers are more likely to frown upon these practices compared to Gen Z and Millennials, who tend to be more forgiving about holiday behaviors seen as non-traditional.

    1. Asking for money for online subscriptions

    2. Gift hauls

    3. Arriving late to a holiday gathering

    4. Asking social media what to buy for people for the holidays

    5. Only using social media sites to buy holiday gifts

    “The generational divide in holiday shopping etiquette reflects broader cultural changes,” notes Rodney. “Young consumers are rewriting traditional rules, creating new customs that blend digital convenience with meaningful gift-giving.”

    AI as a Holiday Helper: Gen Z and Millennials Turn to Tech for Stress-Free Shopping

    Younger generations are embracing AI to navigate holiday tasks, from planning meals to creating personalized budgets. Nearly 69% of Gen Z and Millennials trust AI to help them find better deals, and 57% would even use it to craft holiday cards. However, 81% of Americans feel holiday cards should be personally signed. Despite this, AI remains a practical tool for 56% of Americans who wish it could find deals on gifts this season.

    “The adoption of AI in holiday shopping represents a significant shift in consumer behavior,” explains Rodney. “With 69% of young consumers embracing AI for deal-finding, we’re seeing technology being integrated into holiday traditions in ways that enhance rather than replace the human experience.”

    About the Survey

    This survey was conducted online within the U.S. by The Harris Poll from November 1 to November 2, 2024, among a nationally representative sample of 2,095 U.S. adults. This survey has a key subgroup of respondents, with 1,850 ‘Holiday Shoppers’ who go holiday gift shopping for the holiday season. This research comprises 330 Gen Z (ages 18-27), 613 Millennials (ages 28-43), 521 Gen X (ages 44-59), and 631 Boomers (ages 60 and older). You can view the full report here .

    About Harris Poll Thought Leadership Practice

    With over 60 years of experience tracking public sentiment, The Harris Poll Thought Leadership Practice produces trendsetting research for today’s top brands. Our practice helps clients uncover the trends that shape tomorrow. For more information, visit The Harris Poll Thought Leadership Practice .

    About Harris Poll

    The Harris Poll is a leading public opinion, motivations, and sentiment survey provider in the U.S. since 1963. Now part of Harris Insights & Analytics, we deliver data for meaningful change. For more information, visit The Harris Poll .

    Source: The Harris Poll

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  • “Get to know and minimize the investing fees you pay”: Michael McCullough, MoneySense contributing editor – MoneySense

    “Get to know and minimize the investing fees you pay”: Michael McCullough, MoneySense contributing editor – MoneySense

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    Image courtesy of Wiley

    Recently, Michael helped to update the Canadian version of Personal Finance for Dummies (7th edition), a comprehensive guide to everything from budgeting and spending to taxes and retirement. Below, he shares his own money experiences and what he thinks is the most underrated financial advice.

    Who are your finance or investing heroes?

    Maybe John Bogle, who founded The Vanguard Group, an investment firm in the U.S. that created the first index funds for retail investors. He was driven by more than self-interest. He wanted to empower small investors. Bogle also wrote The Little Book of Common Sense Investing, which made it into MoneySense’s list of 25 timeless personal finance books.

    How do you like to spend your free time?

    Cycling, hiking, running. I live in the Cowichan Valley on Vancouver Island, which has amazing trails right outside your door.

    If money were no object, what would you be doing right now?

    Michael McCullough stands on a hiking trail in front of mountains.
    Hiking in Tofino, B.C. Photo courtesy of Michael McCullough.

    Travelling to expensive destinations like Paris, Japan and the South Pacific.

    What was your first memory about money?

    I seemed to “get” money from a young age. I’d save it and loan it to my teenaged siblings at pretty high rates of interest. This was the late 1970s and early ’80s, when interest rates were sky-high. Then I learned about credit risk!

    What’s the first thing you remember buying with your own money?

    A K-tel compilation record full of one-hit wonders from the 1970s.

    What was your first job?

    I sold service-station coupons door-to-door on commission. It was a racket. I quit after two weeks.

    What was the biggest money lesson you learned as an adult?

    When I was 22, I got ripped off by a criminal gang in Thailand. I basically had to buy my way out of possible captivity with gold, paid for with an American Express card my dad had given me for emergencies. It took me months to pay my dad back, but I knew even then that it’s only money.

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    MoneySense Editors

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  • Canadians will see savings from reduced credit card processing fees – MoneySense

    Canadians will see savings from reduced credit card processing fees – MoneySense

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    The small business group has, however, noted that not all processors have been clear that they’ll pass on the savings, pointing for example to Stripe where not all customers will see a change. 

    Kelly said Stripe’s decision means the company would keep the savings that were intended for small business customers.

    “It’s extremely disappointing to see a big company take this approach,” he said.

    Stripe says customers on its Interchange Plus plan, which sees costs vary by transaction type, will see the fee reductions passed through, just like other network cost and fee changes.

    But those on its flat-rate plan won’t see a change, because the company says it has seen other costs and fees rise that add up to more than the reduction in interchange fees. 

    Other processors such as Moneris have said that qualifying businesses on both its interchange plus and flat rate model will see a reduction.

    Government expects processors to pass on savings

    Finance Ministry spokeswoman Marie-France Faucher said the fee reduction should benefit about 90% of businesses that accept credit cards, and the department expects companies to pass on the savings.

    “The federal government is closely monitoring the implementation of the credit card fees reduction, with the strong expectation that all payment processors like Stripe will pass the savings on to small businesses.”

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    The Canadian Press

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  • Canada’s annual inflation fell to 1.6% in September – MoneySense

    Canada’s annual inflation fell to 1.6% in September – MoneySense

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    The agency said Tuesday its consumer price index for September was up 1.6% from a year ago compared with a year-over-year increase of 2% in August.

    It was the slowest annual pace for inflation since February 2021 when it was 1.1%.

    Gasoline prices in September fell 10.7% compared with a year earlier. Excluding gasoline, the annual pace of inflation was 2.2% in September.

    Meanwhile, rent prices increased at a slower pace in the month but remained elevated as they rose 8.2% compared with a year ago following a year-over-year gain of 8.9% in August.

    Grocery prices increased 2.4%, rising faster than overall inflation

    Statistics Canada said prices for food purchased from stores rose faster than overall inflation as they increased 2.4% in September, the same rate as in August. Prices for fresh or frozen beef gained 9.2%, while edible fats and oils rose 7.8% and eggs increased 5%.

    Prices for food purchased from restaurants rose 3.5% compared with 3.4% in August.

    The inflation report is the last major piece of economic data before the Bank of Canada’s interest rate decision on Oct. 23.

    The central bank, which has a target of 2% for inflation, has cut its key interest rate three times so far this year to bring it to 4.25%.

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    The Canadian Press

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  • Biden Set to Break Improper Payments Record With $1 Trillion In Waste

    Biden Set to Break Improper Payments Record With $1 Trillion In Waste

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    Credit: The White House, Public domain, via Wikimedia Commons

    Topline: The Biden-Harris administration is eclipse the $1 trillion mark in improper payments, a new record for wasted money in a four-year term, according to a recent report from OpenTheBooks.com.

    Key facts: Improper payments — money sent by the federal government to the wrong person, for the wrong reason or in the wrong amount — totaled over $800 billion from 2021 to 2023, adjusted for inflation.

    That’s $450,000 every minute. In the roughly five seconds it takes to read this very sentence, the government will have wasted $37,500 on mistaken payments.

    RELATED: Donald Trump Opens Doors Of Trump National Doral Resort To Power Linemen Amid Hurricane Milton

    Medicaid and Medicare accounted for 43% of improper payments last year, but problems were found across the board. Dead people received $295 million, mostly from pension benefits the Office of Personnel Management sent to former federal workers who had passed away. Prisoners were paid $171 million. 

    The Internal Revenue Service spent $25 billion doling out fraudulent and mistaken tax credits, with some IRS programs reporting mistake rates above 30%.

    The issue is not new, but it is getting progressively worse. Barack Obama wasted roughly 4% of his spending on improper payments in his second term. Donald Trump wasted roughly 5%, and Biden is approaching 6%.

    Background: Even California Democrats have realized that the mistake rate is out of control. The bipartisan “Improper Payments Transparency Act” advanced out of committee with four sponsors including Reps. Jimmy Panetta and Scott Peters. It would require the president’s budget to identify ways to reduce improper payments.

    Dissent has come from within Biden’s own administration as well. When the Environmental Protection Agency received bonus funding from the Inflation Reduction Act, Inspector General Sean O’Donnell told Congress it would be difficult to spend the required $27 billion in one year without making payment errors. Regardless, none of the money was spent on oversight.

    RELATED: Biden Praises DeSantis’ Preparation for Hurricane Milton

    Critical quote: Rep. Summer Lee (D-PA) had a short response when the Washington Times shared OpenTheBooks.com’s improper payment research with her: “Goodness, that was more than I thought.”

    Supporting quote: Some lawmakers take issue with the government’s efforts to claw back overpayments after they’ve been mailed out.

    “Our residents after they made the mistake and they get the letter in a year, that’s not fair,” Rep. Rashida Tlaib (D-MI) told the Washington Times. “They’ve already spent the money. They’re living check by check. They don’t deserve to be punished.”

    Summary: The Congressional budget is growing larger and more bloated every year as it is. There’s no room for $1 trillion to be thrown out due to careless errors. 

    The #WasteOfTheDay is brought to you by the forensic auditors at OpenTheBooks.com

    Syndicated with permission from RealClearWire.

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    Jeremy Portnoy

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