We begin with the big freeze this week, record low temperatures and winter storms have gripped much of the nation. Even parts of the deep south had snowfall for the first time in almost three decades nearly the entire country has been hit by this bitter cold spell. Its had a chilling effect, an its this weeks cover story. This kind of weather, you know, anything can happen. Brutally cold weather has taken hold across the country, hitting more than half the u. S. Population its just frigid. Like its biting in the face just cold. Its no way around it. In illinois, the Chicago River was frozen and even the Mississippi River has chunks of frozen ice new yorks majestic Niagara Falls frozen in time more than 230 million americans are dealing with belowfreezing temperatures this week and its not just in the north in texas, icy roads making driving treacherous in san antonio. Citrus farmers in florida trying to protect their orange groves in georgia, icicles dangle from a historic fountain in savannah. Streets in charleston, south carolina, covered in snow. The frigid temperatures are also freezing pipes and creating damage in davenport, iowa, ice from a water main break encased this womans car, frozen solid. I couldnt even tell you how many inches of ice it has on it. In missouri the water main burst through this mans front yard, freezing his cars and flooding his home. Not a great start to the new year thats for sure. Especially this week everyone is complaining about the weather. Heres someone who is actually doing something about it paul walsh is the director of weather strategy and ibm Global Services thank you for joining us, paul thank you, becky. You know, this arctic cold spell has continued for more than a week. Extended cold like this, does it actually end up having an Economic Impact . Like a hurricane or a wildfire might . Yeah. It certainly does, becky in fact, its the the Economic Impact actually can be bigger than those kind of events the entire sort of eastern half of the country is frozen right now, and with that, the economy sort of slows down it doesnt grind to a complete halt, but you can imagine, if people are not out not doing the same kind of things theyre usualty log theyre no spending the same kind of money on the same kind of things of course then theres the impact, the potential Damage Impact as we heard about, pipes and the impact on the citrus crops and the impact on travel all of those things sort of combine to create this sort of slowdown in the economy. You mentioned the retailers i know that around the hurricane youll generally see people rushing out to the home depots and other places, grocery stores, trying to bulk up and prepare for it ahead of time then the cleanup impact after. In a situation like this, though, is some of this loss because people think, im not going to the mall, and you dont go back out, because youre staying home, or does it all work out in the wash some of it, a lot of it does work out in the wash things, however, like not so much retail but like restaurants. Right. Travel, lot of others are lost forever. You mentioned the travel industry anybody who is thinking about flying, hundreds of flights were canceled some of the amusement parks closed, particularly some of those big amusement parks that have water parks in florida. What happens there obviously theyre going to be losing business. Theyre losing a lot of revenue during the times theyre shut down the timing, the fact were in the middle of the week kind of mitigates a little bit of this but of course becky, we just started winter weve got a long way to go dont remind me and the cumulative effect of these kind of events is where we really start to get hit hard. You mentioned all of this talk about what it means in terms of damages for homeowners. In the case of a hurricane there is longlasting damage, longlasting issues that stick around same thing for any of the fires weve been covering out in california and beyond. In this situation, burst pipes, you think about things like that, but how can you really add it all up in terms of the damage in terms of the insurance loss, these kind of events typically are not going to be as widespread or damaging as a hurricane, for example Hurricane Irma or Hurricane Harvey the insurance money will flow in, will flow in probabl within a month or two. This event is not going to be nearly as dramatic in terms of that, as it relates to sort of the hurricanes and fires but well still see some of that as we move into february. Paul, you mentioned that the forecasters, the weather forecasters are Getting Better and better at this, and you are. Were able to as consumers prepare for all these things with ibm youre able to compile all of this weather data and forecasting, and what happens with your customers . The airlines retailers, other companies that are using data like this what are they able to do you know, the interesting thing thats happening now is more and more companies are able to take the weather data and then use analytics and even use Artificial Intelligence and sort define from that data how th weathers likely going to be impacting what you and i are going to be needing. Anticipating how the weathers going to shape what people are needing, predicting how much more product theyre going to be needing, and the flowing those products into the stores. Paul, thank you, always great talking to you, i appreciate your time. Thanks, becky now heres a look at whats making news as we head into a new week on the money. Americas economy added jobs last month just not at many as had been expected 148,000 more workers were employed in december, below expectations, and numbers for previous months were revised downward construction was strong and retail was weak. The Unemployment Rate stayed steady at 4. 1 average hourly wages edged up 0. 3 stocks started off the new year with a bang. The dow smashing through the 25,000 mark and setting a new record in the process. Just five weeks after breaking 24,000 for the First Time Ever check out the nasdaq it closed above 7,000 for the First Time Ever. The s p 500 set a record of its own. Stocks continue to climb on friday Americas Industrial businesses are booming. The ism manufacturing index, which measures that sector, rose to 59. 7 last month any number above 50 shows expansion. New manufacturing orders jumped in december to the highest level since january of 2004. One of those businesses is steel and Mining Company arseloma, hiring 640 new employees last year and says that is just the beginning. Our kate rogers has more from burns harbor, indiana. Reporter this company employs nearly 18,000 people in the u. S. , and is planning to hire more. 2018, were projecting to hire another 1,100 employees both hourly and salary. Reporter the company is keen to see what comes from tax reform and a potential infrastructure bill in focus this year. Using domestic products, rebuilding our countrys roads and bridges would be ver positive for manufacturing in general, and also for the steel industry. Reporter but like many manufacturers, they face headwinds finding skilled workers. Thats why it started the steel worker for the future program. Its really a partnership of us with high school graduates, where we assist them with their college education, but also provide for them the opportunity for handson training in our factories. Reporter the steelmaker has hired 90 former participants and currently has 144 students enrolled dantrell brooks is a recent graduate. My senior year of high school, everybody was talking about big named college universities, going there for plus years to get a degree, well, i saw this as a 2 1 2 year degree, less than half the time. Guaranteed job, training in craft, i have to go for it. Reporter they partner with middle and high schools around the country to help recruit and usher in the next generation of talent according to the Indiana Manufacturers association, with baby boom retirement coming, the state may have to fill up to 1 million roles for workers over the next decade. Theyre really heavily recruiting and looking for skilled workers. Thank you very much kate rogers. Up next, were on the money. The military is making dramatic changes to its retirement system, and millions of Service Members will be affected, but will it be Mission Accomplished when it comes to savings for the future later, americans are spending bigtime again. If you overdid it with your credit card over the holidays, what should you do now right now, well take a look at how the stock market ended the week ka the new year is bringing sweeping changes to the militarys retirement system biggest since world war ii a move impacting millions of future and current Service Members. We have the details. Reporter 23yearold zach beckman is a Government Contractor in the private sector and a reservist in the United States marine corps. Military service runs in the family i wanted to be a marine since i was a little kid my first big dream my dad was a marine. My grandfather was a marine. Reporter now being offer a choice for his financial future they never had. The old system, basically you had to stay in 20 years before you got any type of retirement plan. Reporter under the current retirement plan, military members receive a lifetime pension equal to 50 of their base pay to earn it, they must serve at least 20 years many aim to hit that target but only 19 reach it. The majority leave the service with nothing. Today people move from job to job, and they need a benefit, a retirement benefit they can take with them. Reporter starting this year, Service Members entering the military will be part of the new blended retirement system, combining a pension plan and another plan like a 401 k putting more of the responsibility for longterm saving on the members shoulders. Starts to learn them to contribute to their own future and retirement. Reporter those with at least 12 Years Service will stay on the Legacy Program 1. 6 million who joined after 2006, including the corporal, will need to choose which plan they want. If you know for the fact that you are going to serve 20 years, then you should stay with the legacy system. Reporter there is still a pension under the new system as long as you reach 20 years, but the amount is reduced by 20 the department of defense says members are encouraged to make up the difference using the federal governments threat savings plan or tsp. Those who opt in will select how much money theyll contribute to the tsp and can begin receiving government matching contributions of up to 5 of their pay right away it is my strong belief if they get the education and they start right away contributing, they wont misthe money. The Reason Congress passed the law reporter the military is requiring mandatory Financial Education training on bases and online so far, over 80 of those who must make a decision have taken it some Financial Advisors worry one course may not be enough. This all has to start in the boot camps this has to be fully integrated into training, just as much as they teec teach you how to shoot a gun, they need to teach you how to invest your paycheck. The blended retirement system, we think its a key step in recruiting and retaining the atlanta talent we need. Reporter this marine reservist says his choice is clear. Getting my civilian job and marine corps experience i know the value of a dollar and see its important to save up for the future. Reporter for other Service Members choosing the best path for Retirement Savings play not be as easy, becky. You know, this is really interesting. This is kind of playing catchup with Corporate America we were just talking about this, both companies ive worked at in my lifetime had the same transition thats taken place, but you make a great point in the package. Its all about education something not only military members need i argue you need it in Elementary School through high School Everybody needs to figure this out. Reporter absolutely. Financial advisers say this financial preparedness needs to be mandated not just one course. Something ongoing. I would argue not just the mill fae military, something everybody should do. Reporter exactly right another thing theyre doing, Corporate America started, open enrollment having the 401 k is great, but making sure employees are joining and contributing to the plan forcing them to do so is one start and another thing corporations are doing and the military hasnt said yet, increasing that amount each Year Companies say 3 this year increase that automatically to 4 next year, 5 , 6 , 7 , Something Else helpful to many people. Thank you appreciate it. A lot to think about. Next, on the money. Americas on a spending spree and Credit Card Debt is nearing an alltime high, but there will be a hangover after the party . A later, bourbon is booming. Question now is, can the supply keep up with the demand . Happy anniversary dinnedarlin can this much love be cleaned by a little bit of dawn ultra . Oh yeah one bottle has the grease cleaning power of three bottles of this other liquid. A drop of dawn and grease is gone. Season and free spending, now comes the not so fun part, the bills. While americans are feeling more confident and spending more, they may be actually overdoing it all of us are. Credit card debt nearing an alltime high. If you find yourself with a big credit card bill what should you do wallet hubs Jill Gonzales, thanks for being here. Thanks for having me. Americans are nearing a alltime record for Credit Card Debt what do you think this is . Is this a sign of Consumer Confidence is it a good thing does it mean wear are all getting over our heads at this point . The trilliondollar mark in terms of debt is not a good thing. Yes, we have a lot of Consumer Confidence obviously the economy is in much better shape than it was prerecession, but these spending levels are reaching the unsustainable heights that they were in q4 of 2007 somethings got to give. Where were we then, where are we now, how do you break this down looking at the whole amount, per capita the whole amount, 980 billion in q4 2007 now the trilliondollar mark for the First Time Ever. Thats collectively. Per household back then, around 8,400 now were at the 8,600 mark weve already seen the delinquency rates start to creep up at the end of 2017. What does this tell us, and how can we address it, i guess the other thing is Interest Rates have been incredibly low not if you look at your credit card rate. That rate is much higher tha youll pay for Something Like a mortgage or auto loan. As a result, what do you tell people to do which bills should they be paying off, how can they get things under control youre right. Interest rates were at a historical low in 2015 now the fed has been raising the prime rate, three times last year, its looking to do it three times this the year. Every time thats raised it adds about 1. 5 billion to our credit card interest charges. Ah thats prehike so were expecting three more of them the goal is to make something realistic happen, its resolution season. Towards the end of 2018, you want to see about 20 of your Credit Card Debt paid off. So for the average household, thats around 1,700 what should you do in terms of Balance Transfers or ways to get lower rates . Should you put it all on one card should you be looking for the lowest rate . Should you take out a home equity line of credit to get a lower rate whats the smart thing to do right now, Balance Transfers are your best bet, especially since they have really great offers going on that we probably wont see for too much longer because credit will have to tighten this year. So i would say putting it on a Balance Transfer card. We usually get a 0 apr on that balance for up to 21 months. That buys you a lot of interestfree time great advice. Jill, thank you for being here today. Thank you again, Jill Gonzales of wallet hub. Next on the money, a look at the news for the week ahead and will the bourbon boom last we will take to you a Kentucky Bourbon Company making a billiondollar bet on the popular whiskey. Here are the stories coming up that may impact your money this week. On tuesday well be getting the report from the labo department, tells us how many job openings there were for the month of november. On that day 11 years ago steve jobs introduced the very first iphone on thursday well learn the size of the federal deficit thats when th treasury budget is released. Then on friday, well see how retailers fared during the month of december. Plus, well also be getting a read o inflation with the Consumer Price index. 95 of the worlds bourbon is made in kentucky. Demand is growing for americas native spirit. Distillers are betting big that trend will continue as landon dowdy discovered when she went to the bluegrass state it is very smooth it goes down so easy reporter u. S. Whiskey sales on the rise the past five years, and show no signs of slowing down i switched several years ago. Yeah. Theres definitely more of a bourbon boom its not really focused on one demographic. Reporter bourbon and whiskey sales jumped 7 and 22 respectively last year, according to International Wine and spirits Record Companies like privately held papi van winkle maker are betting big, build agency new warehouse every four months and filling it with wivgy at a cost of 25 million a pop its literally a giant guessing game. But its fine. I mean, we can if things start to slow down, we can actually decelerate the investment program, bu right now, were set to invest 1 billion in the next 10 years. Reporter i had a chance to try their Pappy Van Winkle bourbon, aged for the majority of my lifetime now lets see if i can actually pick out the pappy sold at abou 315 per shot or up to 5,000 per bottle i want to go with this one, because its the smoothest well done. With a barrel of pappy taking decades to age, the question for analysts, can companie produce enough bourbon to keep up with demand its not just them getting a boost from bourbon, an investment of 45 million to modernize its facilities, installing new Bottling Technology to 100 bottles a minute, double capacity, and 15 million to build a distillery and Visitors Center to open next year consumers are not only drinking more bourbon but more expensive bourbon. With american wivgies, whiskeys, if youre at the premium end, youre doing the best this position is the premium end of american whiskey so were right with the trends right now. Reporter analysts and the companies attribute the bourbon boom to millennials thanks to the ongoing classic cocktail trend and the entrance of flavored bourbon, making it more attractive to women. Becky, you look skeptical. Whats in that cup theres no Pappy Van Winkle in here today. Reporter i let you down. It would help us toda potentially make us feel better about things you know, the big bourbon distillers, do they worry about the new craft entrance do they think its going to eat into their sales or do they think its something that might float all boats . Reporter we have seen a lot of that like the craft brewers the big guys say, its not a problem, as soon as they start to get popular, they cant keep up with the demand so they have to buy them we saw with Companies Like angels envy bacardi just bought them up. Its a good thing for them it takes a long time with bourbon, isnt that the trick . It takes at least seven years. With the pappy, 23 years theyre betting 40 years in advance that people are going to want all this bourbon, specifically the pappy you can taste the difference, i have to say. In the 23yearold aged pappy. You have whetted my appetite for the next time youre there. Reporter we will go to kentucky ill take you with me next time. Sounds good, thank you very much that is the show for this week im becky quick. Thank you so much for joining us next week Fitness Trends slimming down without making your wallet get too skinny as well new ways to keep your new years resolution each week keep it here on the money. Have a great one, and we will see you next weekend hey there, live at the nasdaq its freezing. Who w look who decided to stay even put on his fancy jacket heres whats coming up on the show back in the saddle again announcer when some traders are saying about bitcoin, surging again. And option traders even bigger gains for some cryptorelated stocks how to profit. Plus talk about a bank job. This is a robbery financials have surged into earning, but