Economic outlook bright for many Americans, despite potential government shutdown

Dec. 20, 2024 | On the Money

INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King, who takes a look at gingerbread prices, a Big Lots bankruptcy blowout, and how a TikTok ban could hit small businesses.

Nearly 50% of US adults have positive financial outlook

Bankrate found 44% of American adults expect to see their financial situation become either “somewhat” or “significantly better” next year.

Less inflation was the most common driver behind the rosy outlooks, with 36% of Americans pointing to that. For instance, over 1/3 of Americans who anticipate they will see better personal finances in 2025 reported “rising income” as helping guide their positive outlook.

Big Lots facing bankruptcy blowout

After months of store closures, Big Lots is preparing to close all of its locations.

More than 400 stores have already been closed by the retailer in 2024 and the remaining ones are having “going out of business” sales.

TSA workers required to work through shutdown

Government funding will lapse Friday night without Congressional action. If this happens, many federal employees will be furloughed.

However, most TSA employees, including the agents at airport security checkpoints, are considered essential and would be required to work without pay through a partial government shutdown.

TikTok ban could hit small businesses

A possible TikTok ban is looming–and it could cost creators and small business an estimated $1.3 billion in just one month!

Some analysts say small business owners could soon find themselves out of business, since many of them use the platform to connect and sell directly to consumers.

Gingerbread prices not crumbling this Christmas

Christmas dinner and gingerbread, a popular holiday treat, will be costlier in the U.S. this year.

The Commodity Data Provider found prices for the main meal – measured by the main meal index as part of its Christmas dinner index – posted a 2.3% jump from last year. It looked at turkey, pork, beef, shrimp, lamb, potatoes, sweet potatoes, carrots and turnips.

Gingerbread cookies are expected to be more expensive due to the prices of eggs, sugar and spices.