Congressional Democrats are moving to shut down President Donald Trump’s proposed $1.776 billion Anti-Weaponization Fund, escalating a political fight over compensation for Americans who say they were targeted by politically motivated prosecutions and federal lawfare.
Rep. Jamie Raskin, the top Democrat on the House Judiciary Committee, is introducing legislation aimed at preventing any federal money from being used to create or distribute payments through the fund.
According to a copy of the bill shared with Axios, the legislation states that “no Federal funds may be used to create or make payments” tied to the Trump administration’s Anti-Weaponization Fund.
The fund emerged from a settlement between Trump and the Internal Revenue Service after the president sued the agency over the leaking of his confidential tax returns during his first term.
Under the settlement framework, individuals claiming they were victims of politically motivated prosecutions or government abuse would be able to seek compensation.
Potential applicants could include January 6 defendants and others who were unfairly targeted by federal authorities.
Raskin is reportedly considering using a discharge petition to force a House vote if Republican leadership blocks the measure from reaching the floor.
At the same time, some establishment Republicans are also voicing opposition to the fund. Rep. Brian Fitzpatrick told reporters Wednesday that he would “try to kill” the program.
“We’re going to write a letter to the [attorney general] to start, but we’re considering a legislative option,” Fitzpatrick said.
Supporters of the fund argue it represents a long-overdue effort to compensate Americans harmed by politically driven prosecutions and abuses of government power.
Critics, meanwhile, claim the program would improperly use taxpayer money to compensate individuals tied to controversial investigations, including those connected to the January 6 Capitol protest.
Two law enforcement officers who were present at the Capitol on Jan. 6 have already filed a lawsuit seeking to dissolve the fund entirely.
Lowe's CEO Warns Housing Market "Most Difficult" Since Financial Crisis As DIY Project Demand Crumbles
Home improvement retailers such as Home Depot and Lowe's warned this week that consumers remain reluctant to splurge on big-ticket home improvement items, as elevated mortgage rates, high home prices, energy inflation, weakening sentiment, and broader macroeconomic uncertainty weigh on demand.
Let's begin with Home Depot, which on Wednesday reported mixed first-quarter results. At the same time, management said on the conference call that it is not expecting a "marked improvement in underlying demand."
Bernstein analyst Zhihan Ma pointed out that Home Depot's foot traffic has been negative for five straight quarters, underscoring the persistent downturn in the home improvement space.
Ma maintained a "cautious outlook" and expects a "gradual path to a home improvement market rebound," as high mortgage rates and inflation in material costs do not help the "affordability hurdle for homeowners to engage with big-ticket discretionary projects."
Fast forward to Wednesday morning, and Lowe's reiterated its full-year forecasts but warned that households are dialing back big-ticket do-it-yourself projects.
What caught our attention was Lowe's CEO Marvin Ellison, who warned analysts on an earnings call earlier that:
I think overall this has been the most difficult housing market that I've faced in this business since the financial crisis. And as Brandon mentioned, it's almost exclusively or disproportionately on the DIY customer.
That's the majority of where our revenue comes from. And so I look at it from this perspective, you know, we've delivered four quarters of positive comps in an environment where the DIY has faced more economic pressure than I've ever seen before.
DIY softness comes as U.S. housing turnover sits at historic lows because of affordability woes, some of the worst in a generation, and elevated mortgage rates.
Housing affordability for first-time homebuyers remains at a four-decade low.
This, of course, means fewer home sales, which typically translate into fewer move-in renovations, remodels, flooring upgrades, kitchen projects, and other big-ticket home improvement purchases.
At the start of the week, Wayfair CFO Kate Gulliver issued a similar warning at JPMorgan's conference, signaling that demand for big-ticket home items is unlikely to recover this year.
What’s the main goal of your 401(k)? Well, my dear Watson, it’s to provide for your retirement. Specifically, it’s a long-term investment that benefits from compound interest. But for a record number of Americans, the “long term” is taking a back seat to immediate financial struggles.
In 2025, 6 percent of Vanguard 401(k) plan members took hardship withdrawals. That’s a big jump from 4.8 percent in 2024 and much higher than the roughly 2 percent annual rate we saw before the pandemic.
This trend, highlighted by the World Economic Forum and MarketWatch, paints an alarming picture of the American workforce’s financial health. Costs are rising, stress is growing, and well-intentioned regulatory changes are having unintended consequences.
That said, now is the time to investigate why this is happening and to identify the hidden costs. And, most importantly, you need realistic ways to avoid making your retirement nest egg an emergency fund.
The Breakdown: What’s Driving the Surge?
It’s not a coincidence that hardship withdrawals are at an all-time high. This is the result of several powerful economic forces colliding:
A Squeeze of Rising Costs and Financial Stress
It’s not a secret that life has gotten more expensive. Even though some metrics indicate a slowdown in inflation, the cumulative effect of price hikes in groceries, housing, and other essentials over the last few years has significantly reduced consumer purchasing power. As an example, consumer prices are approximately 25 percent higher than they were in January 2020.
As such, a small unexpected expense can trigger a crisis for many families with little to no financial buffer. In fact, according to a Bankrate survey, just 47 percent of Americans have sufficient liquidity or access to funds to cover a $1,000 emergency expense.
The Urgent Nature of the Withdrawals
These withdrawals aren’t for vacations or new cars. According to Vanguard, the median withdrawal amount in 2025 was $1,900. And, among the reasons people tapped their 401(k)s, these were the most common:
Avoiding foreclosure or eviction (36 percent)
Medical expenses (31 percent)
Tuition (13 percent)
Primary residence repairs (11 percent)
Primary residence purchase (5 percent)
Ultimately, withdrawals represent a broader challenge: Americans have relatively few retirement savings at their disposal.
Lowered Hurdles Have a Positive Impact
Ironically, some recent regulatory changes intended to ease the burden may be contributing to the rise. As a result of legislation such as the SECURE Act 2.0 (SECURE refers to Setting Every Community Up for Retirement Enhancement.) and legislation from the pandemic era, it’s now significantly easier to access funds in a 401(k). Depending on the situation, the rules now allow withdrawals of up to a defined amount (like $1,000) without penalty for “unforeseeable or immediate financial needs.”
As important as this flexibility is in a real catastrophe, it also lowers the psychological and logistical bar to leveraging these funds. The result, though, is that your retirement account looks more like a savings account, which is a very dangerous mentality.
The True Cost of ‘Easy Money’
When you’re facing eviction or a huge medical bill, $5,000 from your 401(k) can seem like a lifeline. But that lifeline comes at a heavy price, one that is often overlooked in times of crisis, such as the following.
Immediate Tax Consequences
Unlike a 401(k) loan that you repay with after-tax funds, a hardship withdrawal is permanent. Therefore, the withdrawal amount is generally taxable as ordinary income. When you take out $10,000, for example, and are in the 22 percent tax bracket, you’ll immediately owe $2,200 in federal taxes, which reduces your actual relief to $7,800.
Potential Penalties
If you’re under 59 ½ years old, you will likely face an additional 10 percent early withdrawal penalty on top of income tax. That’s another $1,000 gone from your $10,000 withdrawal, bringing the total cost of immediate access to 32 percent.
The Devastating Sacrifice of Compound Growth
Obviously, this is the highest and most invisible cost. Imagine if the $10,000 you withdrew had been left to grow for another 20 years. With an average annual return of 7 percent, that money would have grown to about $38,700. By taking out that money now, you are not only borrowing $10,000 from your future self; you’re erasing almost $39,000 from your retirement account.
This is a magic trick. That’s the power of compound interest. Knowing this sooner will help you realize that 401(k) withdrawals aren’t “easy money”—they’re incredibly expensive loans.
The Irony: A Healthy System With Struggling Participants
An astounding contradiction can be found within the same 2025 data: even though record numbers of people are tapping into their 401(k)s for emergencies, the average 401(k) balance actually grew by 13 percent since 2024.
In addition, more recent analysis from Fidelity shows average 401(k) balances climbed more than 11 percent, indicating that nest eggs have rebounded after recent swings in the markets.
Although this may seem confusing, it indicates a widening gap. While many workers contribute consistently and benefit from employer matches, consistent contributions, and strong market conditions. Their wealth is growing.
Meanwhile, the 6 percent of participants who resort to hardship withdrawals constitute a vulnerable segment of the population. Although the retirement system appears healthy on the surface, they’re suffering the brunt of the affordability crisis. This is a powerful reminder that “average” statistics can mask serious underlying problems.
Realistic Strategies to Keep Your 401(k) Locked
If recent data tells us anything, it’s that relying on your 401(k) as a backup checking account is a high-stakes gamble. To ensure your retirement fund remains dedicated to your future, you need a proactive defense. Here are realistic, actionable options to keep that vault closed.
Re-Evaluate and Automate Your Budget
This is the foundational work that makes everything else possible. If you don’t track your spending, you can’t control it. Before you can build momentum, you have to stop the bleeding by identifying exactly where your cash is going.
Audit your “leaks.” For one month, track every cent. You’ll likely find “ghost” expenses, like unused subscriptions, frequent small convenience purchases, or delivery fees, that are quietly draining your ability to save.
Establish a “needs vs. wants” hierarchy. Be ruthless. Shelter, utilities, groceries, and minimum debt payments are non-negotiable needs. Everything else is a want. If your financial foundation feels shaky, wants must be the first thing to go.
Use the right tools. Modern technology makes this much less painful. Using financial apps, such as WalletHub or Monarch Money, can put you in total control. By linking your accounts, your expenses are automatically categorized, allowing you to see your spending patterns in real-time. These tools also allow you to effortlessly manage and cancel subscriptions in one place, ensuring you aren’t paying for services you no longer use.
Build a ‘Firewall’ Emergency Fund
An emergency fund is the only thing standing between a flat tire and a raided retirement account.
Start with a mini-goal. Don’t let the “six months’ expenses” rule overwhelm you. Start with a small target you can afford, whether it’s $300 or $1,000. That single amount covers the vast majority of common shocks, from a basic car repair to an urgent medical copay.
Make it invisible. Set up a recurring transfer from your checking account to a separate high-yield savings account on the day you get paid. Even $25 or $50 per pay period builds a psychological and financial buffer. If the money never hits your main account, you won’t miss it.
Explore Smarter Alternatives for Fast Cash
Before you touch your 401(k), exhaust every other avenue. Retirement should be the last door you open.
Low-interest personal loans. You can manage debt or major expenses with a low-interest personal loan from a credit union or bank without incurring heavy taxes or losing compounding interest. For well-qualified borrowers, fixed-rate loans offer predictable, manageable monthly payments with rates as low as 10 percent.
0 percent APR balance transfers. If high-interest credit card debt is the primary stressor, a zero percent introductory APR card can give you a 12-to-18-month window to pay down the principal without accruing more interest.
Community and state programs. Local and federal organizations assist with housing and utility crises, such as 2-1-1, HUD, and the Homeowner Assistance Fund (HAF). Before sacrificing your future security, take advantage of these programs designed to prevent eviction and foreclosure.
A Final Safety Valve: The 401(k) Loan
If you have truly exhausted every other option and are facing an immediate crisis, such as eviction, a 401(k) loan is generally a better choice than a hardship withdrawal.
Why is it better? Essentially, you’re borrowing money from yourself and paying the interest back to yourself. In addition, it does not trigger the 10 percent early withdrawal penalty or immediate income tax.
The critical caveat. You must repay it, typically within five years, via payroll deduction. Be aware that if you leave your job, the remaining balance is often due immediately. If you can’t pay it back, it defaults into a withdrawal—triggering the exact taxes and penalties you were trying to avoid at a time when you may be least able to afford them.
Conclusion: Protecting Your Future, One Day at a Time
Vanguard’s 2025 data is alarming. Americans are increasingly financially vulnerable to the point that their primary tool for future security is being wiped out by today’s pressures. This is not a sustainable path.
The first step is to understand the “why” behind this trend, which is rooted in financial stress, urgent needs, and simplified rules. The second step is to acknowledge the true, exorbitant cost of this immediate relief.
In the end, building a financial infrastructure that can withstand storms is the key to preventing your 401(k) from being a go-to ATM. Start with a real budget and an emergency fund, no matter how small. Even when today’s demands seem overwhelming, you must discipline yourself and put your future first.
Remember, your 401(k) shouldn’t be viewed as a piggy bank but as a tool to ensure you’ll have the lifestyle you want in your golden years. Don’t risk your retirement for a temporary fix. The costs are simply too high.
By John Rampton
The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
With the U.S. national average sitting at $4.53 per gallon (according to AAA data) and no resolution yet on a U.S.-Iran peace deal or the reopening of the Strait of Hormuz, pump prices risk rising even higher into the holiday weekend as the summer driving season begins.
Let's start with the chart of the day: AAA retail gas prices in the U.S. on a seasonal basis closely track the 2022 run, when the Russia-Ukraine conflict was in its first several months.
Gas prices in 2022 did not top out until mid-June.
The impending problem, with no near-term Hormuz resolution, as JPMorgan analysts recently warned, is that the world is spiraling toward a catastrophic cliff-edge shortage of crude oil if the maritime chokepoint remains blocked into June.
Former CIA analysts and current RBC commodities head Helima Croft told clients days ago that she is "very skeptical of a June grand reopening or even that maritime traffic will return to February 27 levels for the foreseeable future."
AAA Retail Gas Price Map
For Memorial Day 2026, AAA forecasts around 39.1 million Americans will travel by car, representing 87% of all holiday travelers. That will create a meaningful near-term lift in gas demand, especially from Thursday through Monday.
EIA notes that gas demand typically rises into the summer driving season, while last year's Memorial Day period coincided with the highest weekly implied gas demand of 2025 up to that point.
So, in an already tight gas market, a busy Memorial Day driving weekend can certainly pull more barrels through the system, support pump prices, and may only lead to higher prices if no Hormuz resolution is found in the near term. The demand destruction level sits around $5.
“. . . we are witnessing mass formation in real time, where the group delusion becomes the only permissible reality.”
- LH Grey on X
Last week, Stephen Colbert celebrated his May 21 departure from late-night TV by French-kissing his fellow late-night soul-mate hosts goodbye, perhaps to honor the French origins of the Woke political ideology that guided his rocket flight to fame — Michel Foucault (1926–1984), who argued that power was all that mattered and that you could talk any absurdity about sex, mental illness, and criminality into mass belief. . . Jacques Derrida (1930–2004), who argued that reality depends on how you feel about it. . . Jean-François Lyotard (1924–1998), who denounced truth per se in favor of your truth. . . and Gilles Deleuze, father of gender-fluidity.
So, bonne nuit and au revoir, Monsieur Colbert, and don’t let the CBS screen door bump your ass on the way out. Few public figures in our time have done as much damage to the collective mental health of our country than Colbert did in his late-night operations. For instance, the dance routine, broadcast circa April 2021, titled “The Vax-Scene,” when “Joe Biden” and Dr. Fauci rolled out the mRNA products that would eventually maim or kill hundreds of thousands of Americans. Colbert did the shimmy in front of a chorus line costumed as syringes capering to a musical arrangement of the old Latin hit, Tequila (original, by The Champs, 1958). His ignorance about what actually was at stake was surpassed only by his Cheshire Cat caliber smugness. So, what you see in this video is the rectified essence of the demonic idiocy that still animates the Democratic Party. Save it and watch it often to remind yourself what the nation has been battling for so many years.
I was actually a guest on Colbert’s show years ago in its early evening incarnation when the running gag was Colbert pretending to be a right-winger. In the green room before the show, his handlers told me to “not try to be funny because that’s Stephen’s job.” I had just published a novel about what life in America might be like after the collapse of our techno-industrial economy (World Made by Hand). Colbert treated that as a joke, too, of course. He already had the remarkable ability for finding comedy in all the wrong places.
By the time Covid came along, he was no longer a pretend conservative; he was an out-front Democratic Party / Deep State propaganda tool.
It remains to be seen how the party can possibly survive the revelations-to-come of its monumental criminality. Sunday morning, Acting Attorney General Todd Blanche turned up on Maria Bartiromo’s public affairs show. Maria was in a testy mood, repeatedly telling Mr. Blanche that America has lost patience bigly over the complete lack of “accountability” for the various seditions and treasons launched against the public since 2016, in particular, the obvious treachery so many witnessed in the 2020 election.
Mr. Blanche replied, “Well, there’s a ton of evidence that the election was rigged. That’s not something the DOJ needs to tell you about. There’s been evidence about that for many, many years. What I can tell you is that we have multiple investigations going on in Arizona, in Georgia — in Fulton County, Georgia. And that’s exactly what we’re looking at.”
Quite so: evidence for many years, by the truckload, and indeed it was only a month or so ago that the FBI turned up at the Fulton County, GA, election records depository building and seized a truckload of ballots and other material related to the Big Switcheroo that the election workers there pulled off overnight on Nov 3, 2020 —because “broken water mains [toilets, that is],” and all. Mr. Blanche might not need to tell the irascible Maria B about that, but eventually he will have to tell the whole country what happened in Fulton County, GA, and Maricopa County, AZ, and Antrim County, MI, and Milwaukee County, WI, and Philadelphia. . . .
It remains to be seen how the stolen 2020 election business might be rolled into the “grand conspiracy” case being pursued in the grand jury convened at Fort Pierce, Florida. It will probably be a major entrée in the smorgasbord of prosecutable turpitudes presently under consideration. Also remains to be seen how half the country that still calls itself “Left” or “Progressive” or “registered Democrat” will greet the news that “Joe Biden” did not win that crooked election, but rather, their bête noire, Donald Trump, won. And not by a slim margin, but by a ton.
And how will all the other authorities across the land, both public and private, deal with the apparent fact that the country suffered under a fake president for a whole four-year term? Congress will have to say something, make some determination. Or the Supreme Court? Or some combo. All the laws passed under “Joe Biden,” and the executive actions taken by him that were not laws strictly speaking, might have to be rescinded, cancelled, including all the many pardons issued under his autopen.
And how will the corrupt, mendacious news media process hard charges of massive and decisive election fraud in 2020? Of course, they never even tried to investigate it, didn’t send a single reporter out to search the thickets, just opened the gas jets to keep the gaslights lit. And they’re still doing it! Only days ago, the disgustingly dishonest New York Times framed their story about the release of Tina Peters in Colorado this way:
Tina Peters, grandmother and Mesa County election clerk, was trying to determine whether a fishy post-election “software update” had wiped the 2020 records out of Mesa County’s Dominion vote-tallying machines. The Colorado authorities, led by Colorado Sec’y of State Jena Griswold, tossed Ms. Peters in jail on a nine-year sentence for examining the machines. Maybe the time is at hand when Jena Griswold gets tossed in jail. Looks like we’ll finally learn the true meaning of the phrase “election denier.”
