Meta is planning to cut about 8,000 workers next month, the third round of cuts this year as it pushes into generative artificial intelligence. Microsoft, meanwhile, is offering voluntary buyouts to about 8,750 workers. If you’re a business applying for a tariff refund, take a seat . We’ll explain. Also: Stocks fell and oil prices rose; those numbers are below. But first, other countries are capping gas prices. Why not the U.S.? My colleagues Kai Ryssdal and Andie Corban explain why. — Carrie Barber, newsletter editor

We often look back to historical parallels in order to understand the current moment. And in today’s economy, there’s a lot we can learn from the 1970s.

The 1970s were “perhaps the last most chaotic time in terms of uncertainty in global oil markets,” said Meg Jacobs, a Princeton University history professor who wrote the 2017 book “Panic at the Pump: The Energy Crisis and the Transformation of American Politics in the 1970s.”

There were two oil shocks in the ‘70s: one caused by the Arab oil embargo in 1973 and another by the Iranian Revolution in 1979. It was also a time of stagflation — high inflation coupled with slow growth. And earlier in the 1970s, President Nixon had implemented a series of price and wage controls.

“I have a point of view based on the past about today,” Jacobs said. “I do not see any kind of price caps in our future.”

That tough decision is pushing more immigrants to self-deport, Foote said. It’s expensive, he said: $20,000 to cover airfare to a new country, lost wages and replacing possessions. For Dreamers, immigrants brought here illegally as children, the cost is more than money. Host Reema Khrais talked with Foote, and a Mexican-born immigrant who left the U.S. for Germany, on the latest episode of our podcast “This Is Uncomfortable.”

It sounds Dickensian, but it’s true: Meal debt has been rising since a COVID-era program providing free meals for all students ended in 2022. Kids who fall in the gap are often given smaller meals as they accumulate debt. Kansas sixth-grader Lizzy Chobad has raised $900 to pay off meal debt in her Valley Center district by selling T-shirts, one with the message “Be Kind.” She hopes to reach a $4,000 goal and establish a running account.