Got 99 Problems and Credit Card Debt Is No. 1

Money

Got 99 Problems and Credit Card Debt Is No. 1

What’s going on: America may not agree on much right now, but one thing feels universal: The cost of living is out of control. Welcome to the “K-shaped” economy. But at least one person insists there’s an “economic boom.” Earlier this week in Detroit, Michigan, President Donald Trump said affordability is a “fake word by Democrats,” insisting inflation is “way, way down.” That hasn’t stopped him from entertaining new economic policies and reaching out to progressive lawmakers for ideas. On his list: a one-year cap on credit card interest rates, limits on big investors buying single-family homes, $2,000 tariff refund checks, and an order directing Fannie Mae and Freddie Mac to buy $200 million in mortgage bonds. While some Republicans have pushed back — looking at you, House Speaker Mike Johnson (R-LA) — Democrats aren’t holding their breath. 

What it means: Even as lawmakers debate fixes, everyday life keeps getting more expensive — and many Americans now rely on credit cards to cover the basics. Credit card debt hit a record $1.5 trillion in 2025, with most interest rates topping 20%. It’s stressful, but you’ve got options. If you juggle multiple cards, focus on one at a time — an expert told Skimm+ to either knock out the smallest balance or target the highest interest rate. And if you’ve been loyal to a single bank? Use that leverage. Tell them other lenders are courting you, and see if they’ll match the lower interest rates. Yes, that includes 0% intro offers. Those deals can buy you breathing room. If your bank won’t budge, a balance transfer could help. Just make sure you keep up with minimum payments — a solid credit score makes all of this easier.

Related: Trump and NYC Mayor Zohran Mamdani Are Texting Buddies (Axios)

The News in 5

🗞️ A federal officer in Minneapolis shot a Venezuelan immigrant in the leg after being “ambushed” during a traffic stop, according to the Department of Homeland Security.

🗞️ The US military is moving around personnel in the Middle East as tensions escalate in Iran.

🗞️ Agree to disagree? Talks about Greenland’s future ended with zero clarity, with President Donald Trump warning “anything less” than US control is “unacceptable.”

🗞️ The FBI raided the home of a Washington Post reporter, which press freedom advocates called a “tremendous intrusion” by Trump officials. 

🗞️ Move over milk bans, these options are returning to public schools thanks to a new executive order.

Money

Just How Cursed Is the Job Market?

What’s going on: The December jobs report landed with a thud. The unemployment rate dipped slightly to 4.4%, but the US economy added just 50,000 positions — the slowest monthly pace of job gains during a non-recession period since 2003. If your search for a new role feels endless, that data backs you up. Hiring has slowed, competition has intensified, and the “gig” economy has never gigged harder. To make sense of it all, we spoke with Nadia Ibrahim-Taney, MEd, MA, MS, a career coach and assistant professor at the University of Cincinnati. Her big message: This market might feel cursed, but strategy still matters. One immediate fix she suggests? Stop treating job applications like a numbers game. Fewer, more intentional applications can work better than blasting your resume into the void. 

Tell me more: That tailored approach starts with your resume — or rather, resumes. Ibrahim-Taney recommends keeping two versions (yes, it’s worth the extra work). One should please the computers: a clean, black-and-white PDF, designed for applicant tracking systems. “This one is boring,” she says. “It’s Calibri 10.” The second one should be more aesthetically pleasing and speak to humans, think: interviews, job fairs, and hiring managers. Make it easy to scan, as recruiters often spend about five seconds per resume, according to Ibrahim-Taney. Finally, don’t underestimate yourself. She notes that men often apply to jobs when they meet about half the qualifications, while women tend to wait until they meet 75% to 90%. “When you take a job that you’re already 90% qualified for, you only have a growth opportunity of 10%,” she says. Food for thought. 

Related: Oh, You Thought the Girlboss Died? Gen Z’s Side Hustle Would Beg To Differ (Axios)

Culture

That Scone Comes With a Side of House Music

What’s going on: You finally shake off the morning yawns after a few sips of iced Americano. You line up that first flaky bite of pain au chocolat. Then the DJ drops the beat. It’s not one rogue café — this early-morning scene now plays out in coffee shops and bakeries from Paris to Toronto to Seoul, according to CNN. Sober raves themselves aren’t new, but a new crowd has reshaped them. Gen Z and younger millennials moved the party into daylight hours and everyday spaces, as they drink less and prioritize sleep, health, and wellness (and still want a social pulse). The result: packed bakery dance floors and morning raves have gone viral, turning unlikely spots into can’t-miss venues before noon. Business Insider says it's part of the rise of “soft partying” — social plans that still feel fun, but without the hangover or next-day regret.

What it means: These morning parties flip the script: You show up half-awake and leave with more energy than you started with, oddly optimistic about the rest of your day. And honestly, that matters. Nightlife now costs more and often feels more performative than personal. A little movement gets your brain going, helps shake off that foggy, stuck feeling, and pulls you back into your body — whether that happens in a bakery, between meetings, or at home before your day really starts. It doesn’t require a full rave — just enough movement to raise your energy and still make it to your first meeting on time.

Related: Was Saks the Last Illusion Holding Department Stores Together? (WSJ Gift Link)

On Our Calendar

A few things to jot down today…

🗓️ Red Bull will debut its new 2026 F1 car look. Here’s hoping they go bolder than their race ‘fits.

🗓️ Happy 25th birthday to the one and only Wikipedia. Correct enough, until it’s not.

🗓️ It's National Hat Day. Perfect excuse to push back hair wash day with some inspo from our Hollywood faves.

Psst…For more dates worth knowing this week, check out the Skimm+ calendar.

Know It All

Cup Noodles dropped three new gameday flavors. Only three. Which option isn't real?