Every December, there’s a familiar temptation in politics: declare victory, declare defeat or declare the whole system rigged.

None of those are very helpful.

Instead of a year-end screed, today’s Rundown does something more practical — and more revealing.

We’re grading President Trump’s 2025 performance the same way most of you evaluate leadership in your own lives: not by slogans, not by press conferences, but by outcomes that touch everyday life.

This is his report card. And it’s grounded in what you, reader, actually cared about this year.

Over the course of 2025, we heard from hundreds of you — law-enforcement officers, retirees, investors, parents, small-business owners — who wrote in consistently and often at length.

Patterns emerged. Some issues sparked debate. Others triggered near-universal approval.

One subject dominated everything else: immigration and enforcement. Not as an abstract idea, but as a question of order, fairness, safety and whether the system still functions at all.

Close behind was Trump himself — not as a personality, but as a force acting against or through entrenched power.

And the theme running through all of it was the same grounding concern: cost of living, where public policy meets the kitchen table.

Over the holidays, we’ll publish a special all-reader feedback issue, featuring voices from 49 contributors — in their own words. It’s one of the most revealing things we’ll write this year, and you won’t want to miss it.

Until then, today’s piece sets the table.

Using the issues you raised most — immigration, affordability, economic stability and more — here’s a clear-eyed 2025 report card for President Trump.

Your Rundown for Monday, December 22, 2025...

The 2025 Trump Report Card

1) Immigration & the Border

Grade: A- (strongest performance, by his own standards and readers’ priorities)

This is the area where Trump moved immediately, using early executive authority to signal that immigration enforcement would be a governing priority from the start, not a long-term aspiration.

On January 20, 2025, the White House issued an executive order explicitly prioritizing:

1. “Establishing a physical wall and other barriers”
2. “Detaining… to the maximum extent authorized by law”
3. “Removing promptly all aliens who enter or remain in violation of Federal law”
4. Ending “catch-and-release.”

The practical consequence has been a sharp decline in reported border crossings and a broader sense that enforcement is being applied more consistently than before.

By September 2025, U.S. Border Patrol southwest border apprehensions were reported around 8,400 — down 84.4% vs. September 2024, per USAFacts’ summary of the government data.

That doesn’t solve everything. (It doesn’t magically fix visa overstays, fentanyl supply chains or the legal logjams behind asylum.)

But if the question is: Did Trump act? And did action move the needle in the direction his voters demanded? This is the clearest “yes” on the page.

Why the A-? Because hard enforcement can be fast, but durable reform is slow.

2) Cost of Living & Affordability

Grade: C (some relief, but not the kind people brag about at the kitchen table)

And the kitchen table is where reputations go to die. People don’t vote according to macro charts; they vote on whether they can cover the costs of food, shelter and gas in the tank.

On inflation: the latest solid CPI snapshot we have (because the November 2025 CPI release is scheduled for Dec. 18, per BLS) is September 2025, with CPI up 3.0% year-over-year.

That’s not 2022-style pain. But it’s also not the Fed’s “mission accomplished” 2% either.

On gas: there has been real relief. EIA shows regular gasoline around $2.895/gal for the week of Dec. 15, 2025, and EIA notes prices fell below $3 earlier this month and are low in inflation-adjusted terms.

But housing is the gut-punch. Econofact reports that as of July 2025, the annual cost of owning a median-priced home consumed 47% of median household income — a national affordability red flag.

So the grade is a C: improvement in some categories (gas, broad inflation trend), but housing and the overall “feels expensive” vibe keeps swallowing any wins.

3) The Overall Economy

Grade: B- (stable enough to avoid panic, not strong enough to declare victory)

The economy in 2025 has been weird: not a crash, not a boom and distorted by policy fights.

November job growth rebounded by 64,000 jobs (after October weakness tied to the government shutdown), but the unemployment rate rose to 4.6%, with wage growth slowing.

That’s not “sky is falling,” but it’s also not the kind of labor market that makes voters feel invincible.

That said, the stock market adds another layer of complexity. Major indexes spent much of 2025 near record highs, driven mainly by large-cap technology and enthusiasm around AI.

For investors, that strength matters. But for many U.S. households, it rarely offsets concerns about everyday expenses or job security.

This is where Trump’s grade turns political rather than purely economic — if people don’t feel the gains, they don’t award extra credit.

A B- says: The wheels stayed on, but the stress is showing.

3) Ending the War in Ukraine

Grade: Incomplete (that’s not a dodge; it’s the honest answer)

Here’s where things stand now: The war continues, with U.S. negotiators pressing for peace even as Russia suggests it will maintain military pressure without a fravorable deal.

Congress passed a 2026 defense bill that includes funding for Ukraine, showing U.S. support is continuing — but only after debate that makes clear the issue is far from unanimous.

So, did Trump end the war, as he promised on the campaign trail? No. Is that entirely a fair expectation for any U.S. president? Also no.

Ukraine is not a domestic program you can rewrite with a memo. The right grade isn’t F. It’s an Incomplete — because the assignment was over-promised, but the story isn’t finished.

Trump is making the grade most clearly on immigration — because it’s where intent, executive power and visible outcomes align.

On affordability, he’s fighting gravity (housing especially).

On Ukraine, the honest mark is Incomplete, not because the war doesn’t matter — but because the U.S. can influence outcomes, but not control them.

That’s the 2025 report card: not a fan letter and not a hit piece, but a set of grades aligned with what voters tend to notice most — the headlines in their newsfeed, the numbers on their monthly bills and the broader direction of the country as they experience it day to day.

Market Rundown for Monday, December 22, 2025

S&P 500 futures are up 0.40% to 6,915.

Oil’s up 2.15% to $57.75 for a barrel of WTI.

Gold is up 1.60% to $4,456.50 per ounce.

And Bitcoin’s up almost 2%, just under $90K.