On the local news tonight they were talking about Halloween being the beginning of the holiday season and are forecasting a 3.7% increase in sales of Christmas items. They did break the spending estimates down by age and say the over 65 crowd has a lot more money to spend and will contribute the most to the sales increase.
Their next story was on the fact that people on Social Security not only will not be getting an increase next year but their insurance premiums will rise on January 1, some by as much as 60 percent.
Had just a little problem following the logic of all of this. Most people I know are cutting way back this Christmas. I’m not sure who the seniors are that have all this extra money to spend. Certainly not me or my friends.
What “next recession”? We never came out of the last one.
Every day Obama is in office is like a day in heaven.
Don’t you people realize that Obama has created billions of jobs. When he won the election we where losing a trillion jobs a week! Unemployment was like 150%! AND EVER SINCE WE HAVE ADDED NEW JOBS EVERY MONTH AND UNEMPLOYMENT IS NOW AT HISTORIC LOWS OF 5.1% !
Stop all the hating on Obama! Racist haters! He is not only a Constitutional Scholar he is an economic genius and a Nobel Peace Prize winner.
Is a Sarc tag necessary?
Alternatively, Walmart et al face a regulatory and tax regime not experienced by the current disruptive competition from the Internet.
Or it’s a sign that they can’t pay for their wage hikes.