Even Dollar Stores Struggling in 'Obama Depression'

From the Article: (Please note the subject line is from the article, not conjured up by me)

America's three largest discount chains — Dollar General Corp., Family Dollar Stores Inc. and Dollar Tree Inc. — all recently missed their quarterly earnings targets.

Davidowitz pointed to the weakness of the dollar and a gloomy consumer outlook as some of the factors behind the stores' slump.

"In those stores, somebody comes in with $12 to do all their shopping," said Davidowitz. "The person who used to come in with $12 now comes in with $8."

"In other words, the economy is continuing to be worse, the Obama depression continues to explode," he added.

I had assumed that in this economy, stores like '99 cent stores' would actually turn a greater profit. However, now that I think about it, I can see how they are not. For my part, I typically go to stores like this when I'm having a big bbq (for things like table cloths, disposable plates, plastic forks/knives/spoons....things like that).

However, while I'm still hosting plenty of bbq's this year, I'm not having as many as in the years past. I typically spend about $30 to $50 dollars per bbq at these stores, so all-in-all I'll be spending about $100 or so less than usual. Multiply that by X-number of people and I can see how these stores aren't making as much as they used to.

Now I'm wondering what other types of businesses are making less than they used to (besides the obvious types of businesses). Anybody have any?

EDIT: Sorry, I forgot to link to full artile. Link HERE

And the solution is to cut taxes, right?

There is a lame joke here somewhere about dollar stores and change.

Anyway, this seems like a good reason to temporarily invest more money into the food stamp program.

If John Boener, Republican and current speaker of the house of representative doesn't accept the $4 trillion in cuts from the white house and dems.

Then this "Obama Depression" will get a lot worse.

And the solution is to cut taxes, right?

superfluidity

"Obama's Depression", sounds legit. I love how we're labeling it as HIS depression.

If John Boener, Republican and current speaker of the house of representative doesn't accept the $4 trillion in cuts from the white house and dems.

Then this "Obama Depression" will get a lot worse.

Well looks like action1234 is going to be out of a job soon. After all that searching...:(

If big business struggles because of regulation or has taxes raised, small business will struggle (This doesn't just go for Dollar Stores). Their costs will go up (labor, food, materials). This means prices will most likely go up, people will lose their jobs, businesses will go out of business, and the economy will suffer. A way to make the economy better, atleast in the long term, is to eliminate taxes on businesses (who simply pass the tax on to the consumer anyways), and deregulate the economy.

Dollar stores are in a tough position because they have to sell cheap stuff. That is what they are known for. If they don't sell cheap stuff then they will be competing with Walmart and K-Mart and others.

What about this?

http://abcnews.go.com/Business/made-america-store-30k-items-buy-growing/story?id=13943386

:)

I thought this was the "Bush Depression" considering how much debt he put the country into.foxhound_fox

Realisitcally dollar stores where always going to fail due to inflation, Maybe its time they implemented change. :P

I thought this was the "Bush Depression" considering how much debt he put the country into.foxhound_fox

I don't know about the US, but where I live, most £1 shops go out of buisiness within a couple of months of opening. I've never known on last for longer than a year :lol:

[QUOTE="Blue-Sky"]

If John Boener, Republican and current speaker of the house of representative doesn't accept the $4 trillion in cuts from the white house and dems.

Then this "Obama Depression" will get a lot worse.

sonicare

Ah yes let's blame Obama. If we'd gone for douche instead of turd sandwich, then the US would be like paradise now!Memberino

The title of this thread is clearly working.

[QUOTE="foxhound_fox"]I thought this was the "Bush Depression" considering how much debt he put the country into.BMD004

How? The billions in increased spending Obama did were fail attempts to fix what Bush did i.e. the bailout and cash for clunkers.

[QUOTE="foxhound_fox"]I thought this was the "Bush Depression" considering how much debt he put the country into.BMD004

http://www.businessinsider.com/government-spending-2011-7

Federal spending increased 2 times as much under Bush as Obama. Why people aren't aware of this basic fact is baffling to me.

[QUOTE="BMD004"]

I thought this was the "Bush Depression" considering how much debt he put the country into.foxhound_fox

How? The billions in increased spending Obama did were fail attempts to fix what Bush did i.e. the bailout and cash for clunkers.

[QUOTE="BMD004"]They've both had a hand in it. Obama basically continued what Bush was doing except on a greater scale.

How? The billions in increased spending Obama did were fail attempts to fix what Bush did i.e. the bailout and cash for clunkers.

[QUOTE="BMD004"]

[QUOTE="foxhound_fox"]I thought this was the "Bush Depression" considering how much debt he put the country into.superfluidity

http://www.businessinsider.com/government-spending-2011-7

Federal spending increased 2 times as much under Bush as Obama. Why people aren't aware of this basic fact is baffling to me.

[QUOTE="superfluidity"]

[QUOTE="BMD004"]They've both had a hand in it. Obama basically continued what Bush was doing except on a greater scale.

BMD004

http://www.businessinsider.com/government-spending-2011-7

Federal spending increased 2 times as much under Bush as Obama. Why people aren't aware of this basic fact is baffling to me.

But you said Obama was doing it on a greater scale which is a gross misstatement of the facts. The exact opposite is true.

[QUOTE="BMD004"]

[QUOTE="superfluidity"]

http://www.businessinsider.com/government-spending-2011-7

Federal spending increased 2 times as much under Bush as Obama. Why people aren't aware of this basic fact is baffling to me.

superfluidity

But you said Obama was doing it on a greater scale which is a gross misstatement of the facts. The exact opposite is true.

U.S. Federal Budget 2007-2008 (Bush): 2.9 trillion. Total Revenue: 2.7 trillion. Deficit: $239 billion.

U.S. Federal Budget 2008-2009 (Bush): 3.107 trillion. Total Revenue: 2.7 trillion. Deficit: $407 billion.

U.S. Federal Budget 2009-2010 (Obama): 3.552 trillion. Total Revenue: 2.38 trillion. Deficit: $1.171 trillion.

U.S. Federal Budget 2010-2011 (Obama): 3.82 trillion. Total Revenue: 2.17 trillion. Deficit: $1.48 trillion.

Look how much bigger the deficits are under Obama. He's adding much, much more to the national debt than Bush was. For example, Obama's deficit in 2010-2011 is about 3.5x bigger than Bush's in 2008-2009.

[QUOTE="sonicare"][QUOTE="Blue-Sky"]

How? The billions in increased spending Obama did were fail attempts to fix what Bush did i.e. the bailout and cash for clunkers.

HoolaHoopMan

[QUOTE="superfluidity"]

[QUOTE="BMD004"]I believe I said "they both had a hand in it".

BMD004

But you said Obama was doing it on a greater scale which is a gross misstatement of the facts. The exact opposite is true.

U.S. Federal Budget 2007-2008 (Bush): 2.9 trillion. Total Revenue: 2.7 trillion. Deficit: $239 billion.

U.S. Federal Budget 2008-2009 (Bush): 3.107 trillion. Total Revenue: 2.7 trillion. Deficit: $407 billion.

U.S. Federal Budget 2009-2010 (Obama): 3.552 trillion. Total Revenue: 2.38 trillion. Deficit: $1.171 trillion.

U.S. Federal Budget 2010-2011 (Obama): 3.82 trillion. Total Revenue: 2.17 trillion. Deficit: $1.48 trillion.

Look how much bigger the deficits are under Obama. He's adding much, much more to the national debt than Bush was. For example, Obama's deficit in 2010-2011 is about 3.5x bigger than Bush's in 2008-2009.

Biased much? Majority of the legislation including the $800B bailout passed in 2008 to 2009 was created under Bush administation, This is literary the equivalent of ordering lobster at the dinner table and skipping out early and leaving the rest of the group with the bill.

The second Obama entered the white house he already had $800 Billion on his tab.

Well duh,

Dollar stores pretty much carry non-essential items, and when people don't have extra spending money, cause they are for example, trying to save their house and every penny counts, they aren't gonna be spending at those types of stores.

U.S. Federal Budget 2007-2008 (Bush): 2.9 trillion. Total Revenue: 2.7 trillion. Deficit: $239 billion.

U.S. Federal Budget 2008-2009 (Bush): 3.107 trillion. Total Revenue: 2.7 trillion. Deficit: $407 billion.

U.S. Federal Budget 2009-2010 (Obama): 3.552 trillion. Total Revenue: 2.38 trillion. Deficit: $1.171 trillion.

U.S. Federal Budget 2010-2011 (Obama): 3.82 trillion. Total Revenue: 2.17 trillion. Deficit: $1.48 trillion.

Look how much bigger the deficits are under Obama. He's adding much, much more to the national debt than Bush was. For example, Obama's deficit in 2010-2011 is about 3.5x bigger than Bush's in 2008-2009.

BMD004

A deficit results from spending more than you're bringing in. When Bush introduces a new entitlement program, it doesn't magically go away when Obama takes office. He inherits that spending. Obama also inherited a depressed economy which resulted in lower tax revenues.

The data is very clear that Federal spending increased about twice as much under Bush as Obama. To claim that a higher deficit during Obama's term somehow indicates that he is spending more is very, very wrong.

[QUOTE="superfluidity"]

[QUOTE="BMD004"]I believe I said "they both had a hand in it".

BMD004

But you said Obama was doing it on a greater scale which is a gross misstatement of the facts. The exact opposite is true.

U.S. Federal Budget 2007-2008 (Bush): 2.9 trillion. Total Revenue: 2.7 trillion. Deficit: $239 billion.

U.S. Federal Budget 2008-2009 (Bush): 3.107 trillion. Total Revenue: 2.7 trillion. Deficit: $407 billion.

U.S. Federal Budget 2009-2010 (Obama): 3.552 trillion. Total Revenue: 2.38 trillion. Deficit: $1.171 trillion.

U.S. Federal Budget 2010-2011 (Obama): 3.82 trillion. Total Revenue: 2.17 trillion. Deficit: $1.48 trillion.

Look how much bigger the deficits are under Obama. He's adding much, much more to the national debt than Bush was. For example, Obama's deficit in 2010-2011 is about 3.5x bigger than Bush's in 2008-2009.

If big business struggles because of regulation or has taxes raised, small business will struggle (This doesn't just go for Dollar Stores). Their costs will go up (labor, food, materials). This means prices will most likely go up, people will lose their jobs, businesses will go out of business, and the economy will suffer. A way to make the economy better, atleast in the long term, is to eliminate taxes on businesses (who simply pass the tax on to the consumer anyways), and deregulate the economy.

Dollar stores are in a tough position because they have to sell cheap stuff. That is what they are known for. If they don't sell cheap stuff then they will be competing with Walmart and K-Mart and others.

hoola

Good idea, but liberals are rabidly anti-business. Obama chief among them.

Notice how he keeps harping on dropping the corporate tax rate? He said he was going to do that MONTHS ago. Still nada.

And this is why everyone hates you airshocker.NintendoLover00

Oh no...I better call the waaahmbulance to fix my broken heart. :(

The truth isn't popular, I know. -Pats-

Did you just choose this article so you could write "Obama Depression"? Me thinks ya did. PerfectCircles

He even mentioned in his post that that was the name of the article...

Did you just choose this article so you could write "Obama Depression"? Me thinks ya did. PerfectCircles

He's basically the conservative version of Theokoth :P

I think they need a flat bed from all those french crys you eat.NintendoLover00

:lol:

Yeah, you don't remain a cop long nowadays if you aren't in shape.

I do love french fries, though. Thankfully there's this place around the corner called Airmont Eats that makes them oven-roasted. Ugh, so good. And so healthy.

Do you need a bro-hug, man? You seem to be letting the internet make you mad.

He's basically the conservative version of Theokoth :P

JML897

Hey, don't go giving my title to someone else.

[QUOTE="PerfectCircles"]Did you just choose this article so you could write "Obama Depression"? Me thinks ya did. airshocker

He even mentioned in his post that that was the name of the article...

[QUOTE="airshocker"]

[QUOTE="NintendoLover00"]I think they need a flat bed from all those french crys you eat.NintendoLover00

:lol:

Yeah, you don't remain a cop long nowadays if you aren't in shape.

I do love french fries, though. Thankfully there's this place around the corner called Airmont Eats that makes them oven-roasted. Ugh, so good. And so healthy.

Well now you've gotten us all hungry.

It's crys......not frys.......because you whine all the time......And then I was LJ with these Ellipsis.NintendoLover00

How cute, you're a sock. Don't want to get banned on your other account by telling me how you really feel? I understand.

I guess I'll stop saying what's on my mind because you think it's whining...

[spoiler] Eh, I changed my mind. [/spoiler]

[QUOTE="JML897"]

He's basically the conservative version of Theokoth :P

airshocker

Hey, don't go giving my title to someone else.

Sorry, you gotta make more topics to keep that crown. :(

Sorry, you gotta make more topics to keep that crown. :(

JML897

I definitely have more topics than YOK. Just not recently.