Black Friday Weekend Roars Back as the Obama Recovery Continues

[impik]

.........

And in what might be the best sign of all, the Wall Street Journal is reporting that card (credit and debit) spending has reached pre-recession levels

Card spending growth on Black Friday returned to prerecession levels, according to electronic-payments processor First Data Corp., which said consumers responded favorable to aggressive marketing campaigns.

That trend resulted in year-over-year same-store dollar volume growth of 12%, First Data said, while transactions grew 10%. Americans also substantially increased their Thanksgiving-related travel and food consumption. Overall, dollar volume growth was particularly positive in light of solid spending in the year-ago Black Friday.This is not all happening by accident. The economy is still fragile, but more and more, we are seeing signs of recovery. And the recovery with a growth in consumer confidence and retail sales means that jobs are likely to follow (as I showed in the article linked in the first paragraph). Would this recovery have been possible if our financial system had been allowed to collapse, plunging us into a second Great Depression? Would it have been possible if President Obama had not intervened to save the American auto industry and 1.4 million jobs in it (by the way, GM had the largest IPO of any US company in history)? Would it have been possible without the Recovery Act that saved over 3 million jobs? Would it have been possible without sustained extensions of unemployment benefits? Would this have been possible without the hard work by President Obama and the Democratic Congress to bail out the states to save the jobs of teachers and public safety officers?

I don't think so. This is no accident. This is a result of policy. Policy that is helping the economy come back from the brink of total disaster. Policy that helped save jobs. Policy that helped the unemployed make end's meet while they looked for work. Policy that prevented a run on the banks. Policy that made an American car the motor trend car of the year. Policy enacted by a president facing unified political opposition on the right, astroturfing, and withering attacks from left puritans refusing to understand legislative reality. But the results are clear. While right wing unified opposition prevented even faster recovery, America is coming back, thanks to President Obama's policies.


http://www.thepeoplesview.net/2010/11/black-friday-weekend-roars-back-as.html#disqus_thread

[YOY]

1. Oh yeah! Triple plus good! I didn't think it possible!

n/t