Oprah’s Favorite Things 2008 Holiday List won’t look like 2007. Oprah’s Favorite Things 2008 list will be scaled back, says Oprah’s show today.

Winfrey’s team issued a pre broadcast statement Friday about the new list and how it’s been modified (from those $$$ 2007 gifts) to something that reflects the current economic state of America:

“They’re some of Oprah’s favorite things, but this time there’s a twist…they cost next to nothing! On [Wednesday’s] show, viewers reveal their creative ways to spend less over the holiday season. You’ll meet a mom who shows us how to create a one-of-a-kind treasure that comes straight from the heart Then, one family talks about their very own tradition that doesn’t cost a cent. You’ll also hear some great ideas to make your holiday party memorable and affordable. And, Oprah unveils a special gift that won’t cost you a thing! Find out how to have the thriftiest holidays ever.”