by Lexi Walls

Everyone by now has heard about the catastrophe that we like to call the American economy. Also, I’m sure that everyone has heard that the Wall Street experts have predicted that financial America is only going to get worse. What would make this year even more perfect? Ending it with a holiday season filled with presents of course! But wait, how can we afford all the presents we were promised and we promised to give?

This holiday season, gift stores that usually make their biggest profit from this season will be begging for our business. Stores are expected to run special savings deals and sales all throughout the season in order to break even and maybe turn a profit for the year. But the sales that the stores are giving in general won’t help the average person on the street. This is because inflation has risen a whopping 6% from last year. Wages for the year have only slightly increased, if at all, and the unemployment numbers are higher than ever. This means that a 15% or 20% off sale is not as amazing as it initially may seem.

Experts expect that this year more money will be spent per family, but people will be buying less. This means that prices have increased so much that even if you cut back by a present per person, in a four person family you might save 4 gifts from being bought. You will probably end up spending the same amount or more than you have in past years. Also, stores that sell luxury items are going to be having trouble staying in business since people will gravitate towards smaller gifts that are more necessary for everyday living than larger than life gifts that are only nice to have.

This holiday season expect to receive more handmade gifts and probably don’t expect the car of your dreams. Though holidays are not only for receiving presents but are hopefully for spending time with your family and having a good laugh, realistically this is just another example of how the economy is affecting our daily lives.