With Christmas around the corner sales are everywhere and stores are trying everything they can to get you to take advantage of the holiday deals. With the economy the way it is and with the government already cutting back on services, how will this effect the shopping season and more so the economy for the year to come? With the holidays making your wallet lighter and you belts tighter people have been saving more then spending this holiday season. With people worried about the future the number of gifts under the tree are diminishing. Being a college student and knowing that another student tuition hike is coming next year, I'm cutting back on the holidays and definitely spending less. On the national level the federal government voted against extending unemployment benefits and voted for extending the tax cuts. So those with unemployment will also be looking to cut back on there spending this season. For there will not be government money coming there way anytime soon. Laws were passed in regard to debit and toxic loans so people will not be as able to pay for Christmas on credit as easily this year.
This Christmas season will allude to our economy in the years to come. Will people being forced to live with in their means start developing a more sustainable life style? Will the government be able to cut back on government programs and other stimulus programs? One thing is for sure there will be some sweet sales closer to Christmas.
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