Week of December 12th, 2011

Congress reaches a deal to avoid a government shutdown — and it hinges around light bulbs. Retired Americans are no longer shipping off to Florida when they are done working. On the front lines of the European debt crisis, Italy passes austerity measures proposed by new Prime Minister Mario Monti.

At first glance, Facebook’s Timeline feature just seems to be another in a long series of redesign elements. But upon examination, it reveals itself to be a fundamental shift in how you present yourself to the world. Also, we have a robot roundup, including a robot who can keep you on your diet and exercise plan, a robot who can let you forget the plan while it makes you sandwiches, and a robot that resembles a spider and rappel on a web and do cartwheels.

It is years into a really bad economy, yet according to Black Friday/Cyber Monday retail sales figures, people are spending more. Is it the lure of everything being on sale — 30, 40, 50 percent off? What role have smartphones and other gadgets like Square played in helping us part ways with our cash? How are shoppers and retailers navigating through this economy? Kai and the Marketplace crew head down to the Citadel Outlets in Commerce to find out.

For financial markets, the news the government won’t shutdown this weekend over extending the payroll tax cut seems a bit like someone promising not to poke you in the eye after all. As part of the deal, the Obama administration backed off its push for a surtax on millionaires to pay for more of the payroll tax discount.

The holidays are almost upon us! Have you bought all your gifts, sent off your cards, and thrown all your parties yet? If not, you could benefit from Tess’ conversations on throwing a good — and fiscally responsible — party. Plus, get advice on whether to re-gift or not, and learn the tech gadgets on everyone’s wish lists. Also, we tell you about new ways of paying that may put an end to the wallet — and why the move to a cashless society doesn’t mean the end of the world is nigh. And while many people are out spending during this holiday season, many families have cut back. We check in with one family as they struggle to cope with the holidays.

Governor Robert Bentley of Alabama discusses the federal budget, disaster relief spending, and why his state is cracking down on immigration

Do we go the safe route or the private one?

Go ahead plane, land riiiiight here.

For now, it looks at though leaders in Washington will push back any long lasting decisions on the deficit into next year.

News that the government won't shutdown this weekend over payroll tax cut seems a bit like someone promising not to poke you in the eye after all.

The Citadel Outlets' owner Steven Craig discusses how his outlet malls are doing in this economy, and how they might fare in the future.

Reviewing the week's headlines on Wall Street. This week: What's going on in Washington and the debate over the payroll tax cut, and whether Europe is fixed or not.

Long-term budget issues in Washington are yet to be resolved, but it is likely that leaders will settle on a temporary two month extension of the payroll tax cuts.

My wife and I are in our early 60s, with a son in college. We have Roths and 401(k)s. I will get a pension from the state of North Carolina when I retire in a few years — not so for my wife. What I need to know is: Is there a reason not to put so much of our savings in munis? (I would take the money out of some of our mutual funds.) I would not get munis from states with problematic economies; I would most likely get them from N.C. Also, what is the best way to purchase tax-free munis? Thanks! Stephen, Durham, NC

Spoiler alert: their skin is still blue.

Mobile data use among teens has tripled in the last year

U.S. banks are getting a harsh reception from ratings firms, regulators and even investors. Do they deserve the abuse?

At first glance, Facebook's Timeline feature just seems to be another in a long series of redesign elements. But upon examination, it reveals itself to be a fundamental shift in how you present yourself to the world.

Megaupload vs. Universal Music Group

Tess Vigeland and Marketplace's economics editor Chris Farrell answer listeners' personal finance questions.

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Kai and crew broadcast live from the Citadel Outlets in sunny Commerce, Calif., to find out how shoppers are spending and how retailers are selling during this most-important holiday shopping season.

"Buy Local" campaigns across the country have raised awareness about why it matters where we shop.

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Lower energy costs kept November's Consumer Price Index flat, a good sign for the U.S. economy.

It's sale mania out there. A look behind the method to all the discount madness this holiday season.

Freelance reporter Julia Simon describes her 12-hour detention in Egypt while reporting a story for Marketplace.

Retailers and mobile apps are making it easier for consumers to shop anywhere and everywhere this holiday season.

Federal regulators at the Securities and Exchange Commission just this morning charged several former executives at mortgage giants Fannie Mae and Freddie Mac with civil fraud

After industry agreed to the terms of making more efficient light bulbs widely available, Congress has back tracked on enforcing the law.

A vote today in Italy passes a round of austerity measures suggested by newly appointed Prime Minister Mario Monti. But is it enough to make a dent in the problem?

Governor Robert Bentley of Alabama discusses illegal immigration, the federal budget, and disaster relief spending.

Many are now realizing they'll have to work through their retirement years, which means staying in the areas where they have their career networks, instead of moving to warm states like Arizona.

Clearly we've learned 'sale' is the name of the game this year. But how long can the ridiculous discounts possibly last?

Senator Ron Wyden and Representative Paul Ryan released a bipartisan Medicare reform plan. The timing, amid budget and payroll tax fights, could be intentional.

Ratings agency Fitch has downgraded major banks like Goldman Sachs and Bank of America, but the credibility of such agencies is also waning.

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A deal to avoid government shutdown was reached in Washington yesterday, but one of the provisions of the deal means that new laws surrounding light bulbs won't be enforced for the time being.

Lawmakers are on track to agree to a temporary budget deal ahead of tonight's midnight deadline.

Now that Congress has averted a government shutdown, it takes up the extension of the payroll tax cut and long-term unemployment benefits

The CEO of high-end denim company Joe's Jeans talks about how business is doing, here and overseas.

The Protester is Time Magazine’s 2011 Person of the Year. It always feels like a bit of a cop-out when Time doesn’t choose a particular person and goes with a concept or a generalization. But in this case, Time might have a point. The Protester, whomever we choose to believe him or her to be, had a big year. There were protests in Africa and the Middle East as well as plenty of protests across the United States as “Occupy” became as much a noun as a verb.

Republican Paul Ryan and Democrat Ron Wyden have introduced a bipartisan proposal today to overhaul Medicare. The Labor Department is trying to get better working conditions for home health care workers. Gold has taken a sharp downturn over market uncertainties. Weekly jobless claims fell to the lowest level since May 2008. Department stores are back this holiday season. The EU was once the hottest club in town, but with its continuing woes and shrinking currency, who wants to join now? And we hear about the qualities of olive oil.

Lots of not-so-terrible news was enough to put markets in positive territory today, but not by much. It gives us a chance to take a step back and talk about something different, like the $34-trillion bond market.

With the Iowa caucuses just a few weeks out, we take at closer look at the economic policies of Republican candidate Newt Gingrich. Federal student aid programs could be on the chopping block. Russia is about to get its invitation to join the World Trade Organization as ministers from the group’s 153 members meet in Geneva.  And our weekly Attitude Check, part of our partnership with Gallup, looks at how Americans feel about the crisis in Europe.

Commentator Rob Walker with an omnivore's dilemma. He doesn't eat everything in sight… but his dog does.

The former speaker of the house is currently leading the polls for the Republican presidential nomination. What do his economic policies entail?

My question is, if your mortgage rate is higher than what you could expect from investing, wouldn't it make more sense to pay on the mortgage? This is almost the same as the concept of paying off the credit card with the highest rate first. What are your thoughts on this? John, Rapid City, SD

For realsies!

The administration's proposal could help a growing industry retain workers. But some say high labor costs could limit care for the elderly and disabled.

Going over listeners' responses to past broadcasts. This week: More good jobs news, locavore-ism and the Avon business model

Space harpoon? Space harpoon!

Take an extra week off and disconnect from your computers and BlackBerry, the bank tells employees as it steps up efforts to thwart nefarious trading within its ranks

Unemployment and foreclosures have forced many more households to cut budgets to the bone this year. How some families are coping with the holidays now that they're no longer middle class.

Lots of not-so-terrible news was enough to put markets in positive territory today, but not by much. It gives us a chance to take a step back and talk about something different. Bonds.

We speak to Frank Newport, editor-in-chief at Gallup, about how much Americans really care about the ongoing crisis in Europe.

Point guard Chris Paul is moving to Los Angeles to play for the Clippers. What can that do for his own fame, and for the team's success down the line?

This morning, a right-wing Republican and left-wing Democrat have announced a plan to reform Medicare that may — that may — put policy over politics.

Tom Mueller, author of "Extra Virginity: The Sublime and Scandalous World of Olive Oil," reveals everything you should know about olive oil, including how to taste it.

Weekly jobless numbers out this week show positive signs for the country's economy recovery, but mortage lending rates tell a different story.

From e-readers to video game consoles, find out what to look for and what to avoid when shopping for your tech-savvy friends and family this holiday.

The number of Americans filing new unemployment claims this week has fallen to the lowest point since May of 2008 — and it isn't just holiday retail hiring causing the shift.

Put down the phone, surgeon. The Angry Birds can wait.

The Chinese government will start to levy duties on imported cars made in the United States.

If the euro collapses, Britain's economy could shrink by up to 8 percent. That could have a big effect on the country's defense spending.

Bad news for futuristic hybrid phone company

Will Ferrell recently taped a series of commercials for Old Milwaukee, pro bono.

Republican Congressman Paul Ryan and Democratic Senator Ron Wyden have a plan.

As we head into the holidays, buying up the store and making big plans for parties… we could all use a little help if we want to make a splash.

Not much changing just yet

“I didn’t do it!” pleads tearful Terry Gross of NPR’s Fresh Air

The countdown begins in Washington to come up with a budget before midnight tomorrow, and one place cuts could come from are federal student loan programs.

After years of bickering over terms, Russia is getting an invitation to join the World Trade Organization. WTO ministers start a three day meeting in Geneva today.

The number of people seeking jobless benefits fell last week to the fewest since May 2008. The four-week average has fallen in 10 of the past 12 weeks.

Now I don't have to describe them

Three banks unveil a new three-page checking account guide. Experts hope a new era of simplified disclosure will follow.

The European Union was once the hottest international club around. Does its debt crisis and infighting make less appealing to those who have waited years to gain admission?

The holiday madness is upon us. But, between shopping and holiday party planning, taxpayers can still take steps to save on their 2011 taxes. There are a few last-minutes opportunities to consider by December 31.

The budget debate in Washington has put a lot of programs in danger, including those that depend on research and development tax cuts to innovate.

How Facebook, Twitter, and other outlets shaped The Protester.

You have one week to edit your life story

Gold prices have fallen sharply, erasing gains of last summer’s rally. Investors’ economic fears haven’t changed, but their safe haven asset has.

A busy day for technology: The transportation board wants to ban cell phones and driving altogether; unmanned drones are possibly being used to spy on the U.S.; and a camera can now capture light particles.

Conflict in Washington continues over the possible extension of the payroll tax cuts, as experts disagree whether the measures help or hurt the broader economy. The SEC is pushing for a rule that would disclose the income gap between the average American worker and CEOs. It is about to get a bit more difficult to be a cab driver in Chicago. And what kind of football team will make its home in Los Angeles?

Which professions do Americans trust the most? Gallup’s Frank Newport reveals his poll info in the latest Attitude Check. The payroll tax cut bill is still going through Congress. The governor of California wants to cut state aid to universities. There’s a shake-up in leadership at Avon. U.S. troops are scheduled to withdraw from Iraq but what does that mean for Iraq’s economy? We catch up on the latest in Europe, and why the continent still matters to the U.S. economy. And Kai talks to a man who built his own toaster.

The euro fell to $1.29 today, its lowest since January. Experts say it’s a sign Europe is still hurting, despite last week’s proposed treaty to crack down on budgets. Our Daily Pulse is lower on news that in a recent survey, two-thirds of CEOs of big U.S. companies indicated they won’t be adding jobs for the next six months.

Thomas Thwaites discusses how –and why — he built a toaster from the bottom up.

Longtime CEO Andrea Jung will step aside as Avon faces management and growth challenges. She will remain chairman of the cosmetics firm.

If your car is spending most of the day sitting unused on your driveway, it could be working a lot harder to earn you some spare cash.