They really are the people's prince and princess!

Prince William and Duchess Kate are well aware that England is in a recession. A source tells Us Weekly that the duo, both 29, are forgoing their ski trip out of respect for the current economic climate. "The palace thinks it would send a bad message to be away during this time," a source tells Us.

The couple will be present for Queen Elizabeth's Christmas Day speech; the 85-year-old royal is expected to address England's recession as well.

William and Kate's first married Christmas won't be without fun, though. They'll spend Christmas day at Sandringham manor, Queen Elizabeth's retreat in Norfolk, England. A source tells Us that Pippa, 28, will join her sister for Boxing Day (Dec. 26) in Sandringham. Then Kate, William and Pippa "will all travel together back to Bucklebury and spend the remaining days of Christmas with the other Middleton family members."

Find out more about why William and Kate aren't going on holiday in this week's Hot Stuff video, hosted by Senior Editor Ian Drew. Also in the roundup: how Chaz Bono is adjusting to single life, inside Christina Aguilera's birthday bash, the scoop on Jonah Hill's womanizing ways and much more!