Podcast Summary: The 47 Morning Update with Ben Ferguson

Episode: Holiday Spending to Break $1 Trillion as Democrats Push Economic Narrative
Date: November 28, 2025
Host: Ben Ferguson
Network: Premiere Networks

Overview

This episode of The 47 Morning Update spotlights the American holiday economy in 2025, focusing on the resurgence in affordability, record-breaking holiday spending, and the differing narratives pushed by Democrats and Republicans. Ben Ferguson discusses improving gas prices, declines in Thanksgiving meal costs, and offers a critical perspective on Democratic economic messaging under the Trump administration. The episode also features a segment with Fox Business’ Jerry Willis analyzing consumer behavior and expectations for the season.

Key Discussion Points & Insights

1. The Political Narrative of "Affordability"

• Affordability as a Buzzword: Ferguson asserts that Democrats are obsessing over affordability now, despite downplaying inflation during the Biden presidency (04:02).
• Critique of Democrats: "Instead, they lied to you and said that there was no such thing as inflation, that it was transitory and that things were, quote, getting better..." — Ben Ferguson [04:17]
• Ferguson suggests that Democrats are trying to blame President Trump for ongoing economic woes, despite improvements.

2. Gas Prices: Conservative vs. Liberal States

• Falling Gas Prices: National average gas price for Thanksgiving set at $3.02/gallon—the lowest since the pandemic years [05:19].
• Regional Contrasts: Ferguson presents a state-by-state breakdown, emphasizing that:
  • Conservative states (e.g., Oklahoma, Mississippi, Louisiana) feature the lowest prices, below $2.70/gallon.
  • Liberal states (e.g., California, Washington) have much higher prices due to “overregulation and taxation.”
  • “Where there are conservative states, there are lower prices. And when you have the most radical liberals, where are their prices? Almost double...” — Ben Ferguson [07:40]
• Underlying Reason: Lower prices attributed to Trump administration’s energy policies and deregulation.

3. Record Holiday Spending

• Holiday Shopping Expectations: U.S. holiday spending projected to exceed $1 trillion for the first time, despite recessionary fears and mixed consumer sentiment.
• Consumer Surveys:
  • Some surveys (PwC, Deloitte) show intentions to cut back, especially among Gen Z (down 23%).
  • National Retail Federation predicts a 2.9–3.4% increase in sales.

Notable Clip – Fox Business' Jerry Willis (12:13–13:55)

• "It's interesting, everybody asking just how generous American consumers will be this holiday season... The National Retail Federation sees sales rising 2.9 to 3.4%, breaking through the $1 trillion mark for the first time ever." — Jerry Willis [12:13]
• Advice for Shoppers: Potential for price hikes due to removal of certain import tariffs; best prices on electronics may be found after January 5.
• Shipping Recommendation: Send gifts by December 17 for timely delivery.

4. Thanksgiving Meal Costs Drop

• Lowest Costs in Four Years: The average cost of a Thanksgiving meal for 10 is $55.18—a 5% drop from the previous year and the lowest since 2021 (13:55–15:00).
• Historical Context:
  • Prices surged during Biden years: up 24% between 2021–2024, with significant spikes in turkey and meal ingredients.
  • Current Decline: “A 16-pound turkey will cost an average of $21.50. That is down 16% from Joe Biden’s final year in office.” — Ben Ferguson [15:29]
• Argument: These cost reductions are evidence of economic improvement under President Trump’s policies.

Notable Quotes & Memorable Moments

• Ben Ferguson:

  • “Democrats are trying to say [affordability] is terrible. And actually it's running yet again in the right direction.” [13:55]
  • “Is the economy getting better? Yes. Is pricing getting better for you? Yes. And is this something we should all be excited about? You better believe it.” [15:39]

• Jerry Willis (Fox Business):

  • “Gen Z, the most cautious, say they plan to spend 23% less than last year.” [12:30]
  • “National Retail Federation sees sales rising... breaking through the $1 trillion mark for the first time ever.” [12:44]
  • “You need to buy now because we don't know what's going to happen. Tariffs could go up at any point, in which case those prices will get passed on.” [13:12]

Important Timestamps

• 03:36–04:40: Introduction of core theme; Ben critiques the Democrats’ economic narrative
• 05:09–08:39: Deep dive into gas prices—state-by-state contrasts & discussion of the Trump administration’s energy policy
• 12:13–13:55: Fox Business analysis of holiday shopping patterns with Jerry Willis
• 13:55–15:40: Discussion on declining Thanksgiving meal costs and broader implications for economic well-being

Overall Tone & Takeaways

Ben Ferguson's tone is assertively pro-Trump, critical of Democratic leadership, and focused on contrasting economic outcomes between ideologically different states. He intertwines economic data with political commentary and encourages listeners to accept the idea that things are improving under current administration policies, despite Democratic skepticism.

For listeners:
This episode offers a clear, right-leaning perspective on Thanksgiving 2025’s economic landscape, using inflation statistics, gas price charts, and spending forecasts to argue for a positive outlook. The discussion with Jerry Willis provides a practical angle on consumer habits for the holidays.