I can't stand the news right now! I have both TVs set to the Christmas music channel. My husband and I don't plan to spend much of anything for Christmas... and we don't want our kids to think it's all about the presents, so we've scaled down over the last few years anyway. Even for my daughter's birthday, which is the 19th, we do a cookie party. I make a ton of gingerbread and sugar cookies, and all the kids decorate them and take a pile of their own home...and I discourage gifts for her, knowing she will already have several from family.
My kids love the lights (cheap thrills), our tree, the music, and all that... and that's, for the most part, free. And we don't end up blowing out our budget for stuff the kids look at once and never use again.
Kids should learn about finances, but shouldn't be taught to worry about them... and the news has a real effect on my kids, and not just with finances. Watching all the natural disasters and violent scenes made me leave that stuff alone until the kids go to bed.