And so does the Deciderer and his awesome economomic plan. Look, $600!
Too bad there’s no place to spend it.
A growing number of bankruptcies among US retailers is set to prompt thousands of store closings, the New York Times will report on the front page of its Tuesday edition.
“The consumer spending slump and tightening credit markets are triggering a wave of bankruptcies in American retailing,” with ensuing store closures “expected to remake suburban malls and downtown shopping districts across the country,” writes Michael Barbaro for the Times.
Barbaro notes that over half a dozen store chains have filed for bankruptcy in recent months amidst “mounting debt and plummeting sales” and warns that financial troubles are “quickly spreading to bigger national companies.”
The Times articles comes amid a slew of reports underscoring America’s economic woes. Even presumptive Republican presidential nominee Sen. John McCain, who only months ago panned talk of a recession, admitted today that he thought the country was now in one.
Even relatively well-off retailers face troubles. Added Barbaro in the article, such store chains who can avoid bankruptcy “are shutting down stores to preserve cash through what could be a long economic downturn.”
It’s only just begun, folks.
I do hope that $600 helps you and your family, if you are so “fortunate” as to qualify for the rebate.
I also hope that this will be the year that people finally realize that Republicans always, ALWAYS screw up the economy.
If so, we could be looking at a huge blue tide in November.