Trump's Dismissive Tone Draws Sharp Criticism

Senator Elizabeth Warren isn't letting President Donald Trump's casual attitude about holiday spending slide. During an interview on Politico's The Conversation, Trump was asked about Americans cutting back on holiday gifts as health insurance premiums and other costs climb. His response? "Don't be dramatic."

Warren took to X on Tuesday to blast that retort. "If you notice you're paying more for holiday gifts this year, just remember, Donald Trump's message to you is: 'don't be dramatic,'" she wrote. In an earlier post, Warren pointed out that 46% of Americans were spending less during this year's peak shopping season because of higher prices. "Families are paying the price for Donald Trump's chaotic tariffs," she added.

Record Spending Hides Economic Strain

Here's where things get interesting. Despite all the anxiety around tariffs driving up holiday prices, shoppers actually shattered records this season. November and December 2025 spending topped $1 trillion for the first time ever, with projections suggesting it'll climb to between $1.01 and $1.02 trillion by month's end.

But that headline number doesn't tell the whole story. The season revealed a stark split in consumer behavior. Affluent households kept splurging without much hesitation, while lower-income families increasingly turned to credit cards and buy-now, pay-later services just to get through their shopping lists.

Some relief came from falling gasoline prices and lower mortgage rates toward the end of the year, which helped absorb some of the tariff-related pain. Still, the divide between who's thriving and who's struggling has rarely been more visible than this holiday season.