Analyst: Even Dollar Stores Struggling In ‘Obama Depression’

LOS ANGELES (CBS) —  More stores across the U.S. that offer deeply-discounted products are seeing their sales decline after years of growth amid America’s “Great Recession” — and one analyst said on Monday it’s another sign of even deeper downturn.

While the demand at stores like the 99-Cent Store or Dollar Tree is still relatively high, the biggest chains in the nation have fallen short of Wall Street’s expectations for several months, a trend that may prove even more ominous for the economy at large.

“I think what’s going on in those stores is that we are in a depression for 80 percent of Americans,” top retail analyst Howard Davidowitz told KNX 1070.

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.

Analysts say rising food and transportation prices are likely eating into the profit margins of discount stores, which risk driving away price-sensitive customers with any potential price hikes.

Core customers at most U.S. discount chains typically have a household income of $40,000 or less.


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  • Bonnie

    Not buying this for one second. The 99 cent store where I live is jammed no matter what time of day I go. People have to shop somewhere, and this is the cheapest place for certain items. Don’t belive everything you read folks !

    • Robert Michael Simon

      People don’t have alot of money….Ebay is dead and even if you have some money for a dollar store,it’s certainly less than before…Glad the analyst called it what it is…The OBAMA DEPRESSION.

      • robertsgt40

        Michael-you still don’t get it Dems and Repub administrations come and go. The ruling bankers never leave.

    • Kate

      The store may be crowded, but how much are they buying? If they are like everyone else, they’re buying less. Check what they’re leaving with. That’s what this guy is saying – customers are spending a third less.

    • Chief568


      You can buy it or not…but the point is that EVERY store is hurting for sales. This Depression we are in is NOT getting any better. The ONLY reason the stock market went up is because stimulus money went to the larger banks, etc…and it did NOTHING to fix the economy. The “tax cuts”, which were NOT cuts but simply a continuation of the CURRENT tax levels, only helped businesses MAINTAIN the employees they had. Businesses are NOT hiring…nor will they…as long as businesses are AFRAID. And they are afraid because of the looming costs involved with Obamacare. It’s just that simple.

      • Bill Harness

        Hello E Plummer, George Taylor, Tim, and top retail analyst Howard Davidowitz

        Obama’s Depression? Stop thinking, acting, and behaving like a bunch of morons. All of you sound like most any news analyst on most any news channel these days. If you don’t like how things are, then do something about it. My only thoughts for you morons to ponder are: this is not Obama’s or Bush’s Depression…it is America’s Depression, and let the people of America vote directly on all important issues. The politicians we have elected do not represent the American people, so let us bypass those morons. Put Afghanistan, Iraq, Libya, military spending, entitlement spending, fiscal policy(including bailouts), and all other important issues on a nationwide ballot. Let us all call for an American People’s Election to decide the important issues of our country.

      • John

        That’s a lot of BS Bonnie and you know it. Businesses are not selling because the banks have all of the money and no raises given to workers for YEAR$!

        This has more to do with BUSH charges and now the bill has arrived. What a bunch of whining bores to blame Obama for Bush’s failings!

      • E Plummer

        You need to listen to what the man in the article is saying! Obama has taken this country into a worse position than where he found it. People are only spending on what they HAVE to have. They are spending the rest on gas and higher household epenses.

        So whether you buy it on not, the dollar stores don’t charge admission, there can be many many people in there, sales is what counts.

        We are in trouble as long as Obama is in office, he needs to go back to community organiziing.

      • George Taylor

        Chief568 – I agree with you – I don’t know of any business in the priviate sector that is not experiencing a down-turn. You are right on the money about why businesses are not hiring – looming tax increases and OBAMACARE – has most businesses holding on and not considering hiring additional people. This trend towads socialism/communism must end and the country must elect new political eadership that is not anti-free-enterprise if we are to get out of this recession.

      • Tim

        I guess your a egg came before the chicken person. Last time I checked the economy was tanked while Bush was in office, Obama inherited the mess.

      • orb

        You people are rediculous. The reason business’s are not hiring is because the economy tanked while Bush was in office and no one is buying anything with the the money they don’t have.

        Put down your banjo, turn off Fox, Limbaugh and the rest of the BS and be real for once you mental midgets

      • Fanny Forbes Franklen

        Welcome to OmeriKa and you’d better like it. The real unemployment figure is over 20%, inflation is over 10% and we are in the 3rd year of the Obama depression. Can you feel that hope and change? We can.


      • Bonnie

        High end stores are suffering, not dollar stores. People can at least afford to buy basics there. If they’re not shopping there, then where ARE they shopping ? They have to eat, and it isn’t going to be Whole Foods ! Where I go, the lines are out the door and every checker is being utilized.

      • Brian

        First point, is ridiculous, not rediculous. I’ll just gloss over the facts that someone who doesn’t know how to spell is most likely not the person to be spouting economic opinion. Second, these stores are MISSING EARNINGS, not necessarily REVENUES. You see, when the dollar goes to sh%#, things COST MORE to purchase for businesses which in turn pass the increase on to you and me. When you have a name like DOLLAR STORE, it’s hard to charge 1.19 for something that used to be sold at a buck for a decent profit, yet the cost of inventory increases due to the falling dollar. This drives up the cost and the business can’t easily pass it on to the buyer because they are pinned at the dollar price.

        People need to start paying attention to the value of the dollar. When our government prints more money with no real asset behind it the dollar is worth less, soon to become worthless.

      • Jim

        Tim and ORB I agree with you. The recession started on BUSH’s watch. Another note, Bush and all of the similar wealthy people have not really been affected by the economy. The top 1% or 2% wealthy of the country are hurt by the downturn and in the long run will actually make more money from it. This money will be passed on to the family and continue the same greediness and no human compasssion for the rest. A note regarding the stalemate in the current debt ceiling/deficit talks; I hope Obama sticks to his guns and forces the republicans to compromise on the tax breaks for the wealthy. The republicans defense is that it won’t create jobs by taking away the tax breaks, but how long have the rich had those tax breaks…….. at least four + years and why is the unemployment rate still high and the economy slow to return. If these tax breaks were so critical to job creation, then what’s going on!!! Again it shows the rich do not use these tax breaks for hiring mega employees; they use it for themselves!!!!! If the rich and big business were the driving force of the economy then why is are economy still slow to return? THE WORKING AND MIDDLE CLASS ARE THE DRIVING FORCE OF THIS COUNTRY. When there doing well they spend on everything and that creates business to expand and hire, thus the country and economy does well. GO OBAMA!!!

    • Phillep Harding

      Bonney, how many people in that dollar store of yours used to shop elsewhere, and can no longer afford to do so?

      We had a crash in 1920 but the gov did not ride to the rescue and we recovered so quickly that it’s left out of most history books. Another crash in 31, and the “rescue” destroyed the economy for 10 years. The governments rode to the rescue in this last crash. How long is this depression going to last?

      • AnyoneButObama2012

        It will be a 20 year depression, or close to it.

      • Bruce Brinkmann

        Also, most of the shoppers at these extreme discount stores can’t just say charge it. Most have no credit or don;t want any. If you don’t have the cash then you can’t afford it. Or like my dad used to say “buying on time means, getting to the store before it closes”. He was a good man.

      • Kingfish

        It may also be the fact that people are starting to realize most of it is Chinese junk, made with slave labor.

      • Truth teller

        Not really, 1933 the FED ban private ownership of gold, maybe you should do your history before opening your illinformed mouth.

      • JT

        You can try to rewrite history all you want, but the crash in 1920 is not like the crash of 1929. Anyway, the New Deal helped people find employment and have some security, and Obama could do more, but he is always catering to the conservatives. This is not an Obama depression, and anyone using that word is probably being paid by a certain organization to comment on this article.

    • Sniffit

      Excatly. Especially don’t belive this is the “Obama Depression” nice racist slant ther GOPCBS.

      THe vast majority of Americans know this is Bush’s Depression and those who don’t are drinking the GOP KKKoolaid

      • Lyn

        Yes Tomtheplumber the 90’s were a good time with new technology and way too loose loans, we are still dealing with the aftermath and finger pointing. I believe it doesn’t matter what side was in there if you have technology then big businesses allowed to have visa’s to hire other workers, then ship jobs over seas like manufacturing jobs and make tons of law making it hard for small businesses to be in business along with what they have done to small farmers, you will continue to have this mess. No politician can make a job, that means taxpayer funding. They should encourage local grown small business that will hire from the community and then we have a chance of recovery. And if they encourage local farmers that helps the economy and environment as well.

      • JT

        HA!!! This may be the funniest comment I have ever read.

        Racist slant? Ha!!
        GOPCBS? Ha!!

        Please explain what Bush did to “cause” the “depression”…

      • Gerald Carter

        Two unfunded wars; Tax cut to the Rich during war time; Tarp; Auto Industry bailout; Medicare D; Housing Crisis; should I go on?

      • Back at Ya

        You got everything right about Obama and the Dems except the first one: He has THREE unfunded wars (Libya, which is also flat-out ILLEGAL because he’s not received congressional approval…like Bush got with the first two, which are now also Obama’s.

      • Harpotoo

        So that’s you excuse? That Bush raised the deficit so OBungo can raise it four times as much and that makes Obungo a great Prez in your eyes so much so that you’ll PROUDLY vote for him again?!?! Smok’n the Dope!

      • Gerald Carter


      • Back at Ya

        Then how come Obama is utterly tanking, politically?

        Sorry, your post was written the way you WISHED politcal reality was…not the way it really is.

        Your guy Obama is cratering, and there’s nothing you can do about it.

      • truth

        caps lock = fail

      • American

        gerald …………. obviously, sucks to be you ……….. the typical member of the obama mob of America haters

        nothing like demonizing the real Americans and spouting the obamalies

      • J0nx

        Nope sorry lib. Obama owns it now. He had his chance to institute change and right this ship and he got on bent knee and started felating the banksters instead. Things were pretty messed up when GW left office but Obama had at least a year to do the right thing and he chose the banksters over you. The sooner that you sheep can accept that he does not like you or represent you then the sooner we can take our pain and muttle through the inevitability of at least a lost decade thanks to banksters and corrupt politicians like Obama and others like him.

      • jp

        racist? Seriously? I mean, do you guys ever try out another meme?

      • fleabagger for obama

        its all they got.

      • Facts and Reality

        NIce try, attempting to protect your fallen angel Obama from the outright DEPRESSION that HE now owns.

        BTW Obama himself is a racist, and if you voted for him just because his daddy was black and you had something to prove, then you’re racist too…same as if you voted AGAINST him for the same reason.

        Your guy Obama’s toast.

      • the other ken

        Things started to fall apart after the Dems gained control of both houses in 2006

      • JustAGuy

        How true! That’s the fact that everyone ignores! On purpose!

      • Jadams76

        We have now officially “jumped the shark” on the racist charge thanks to your comment . Congratulations!.

      • Taipan2900

        CBS belongs to your side…Not the GOP..Nice try

      • Lighthope

        > Especially don’t belive this is the “Obama Depression”
        > nice racist slant ther GOPCBS

        It isn’t racist to call it an Obama Depression because calling it such has nothing to do with his race.

        But it is racist of you to think it was.

      • Jim Phelps

        Sniffit what are you sniffing? This mess started with the democrat controlled filibuster proof house of reps and senate from Feb 2007. Yes that means at the time Senator barrack obama is to blame! As for your idiot approach to try to change the past and label the GOP as KKK. News flash KKK was founded and funded by the democrats to put a stop to the republicans for their actions of freeing the black man, making the black man a full citizen, giving the blacks the right to vote along with giving women the right to vote.

        So sniffit as the saying in the service goes, pull you head out of your as$. This Obama depression is caused by obama.

        as long as obama is in office America is doomed

      • Jim Phelps

        Sniffit what are you sniffing?

        This mess started with the democrat controlled filibuster proof house of reps and senate from Feb 2007. Yes that means at the time Senator barrack obama is to blame!

        As for your idiot approach to try to change the past and label the GOP as KKK. News flash KKK was founded and funded by the democrats to put a stop to the republicans for their actions of freeing the black man, making the black man a full citizen, giving the blacks the right to vote along with giving women the right to vote.

        I bet you think Martin Luther King hated black as well since he was a republican, Know what you are talking about obot.

        So sniffit as the saying in the service goes, pull you head out of your as$. This Obama depression is caused by obama.

        as long as obama is in office America is doomed

      • gates1588

        The cause of this economic malaise is purely demographic. 80 million baby Boomers only had 40 million kids. The consequences in a consumer based economy are massive. And now the Boomers are turning into retirees that only buy food socks and underwear. Add the fact the boomers are leaving the tax-paying part of their lives and government at all levels is losing funding. The only cure is the passage of time. It does not matter who is President, or which political party has a majority. Things can’t get better until Boomers start dying off.

      • fat nat

        your a jack a** get over it the president and his little peons have no idea what their doing and you know it

      • discovega

        Like it or not, this the “Obama Depression” every thinking person in the world knows this…only a fool denies this fact.

      • alien5


      • iwahstore

        Can we please stop blaming Bush and Obama for the mess the country is in and just concentrate on getting things done to promote the economy. America is sick and tired of the “blame game”. We need action and we demand it now. We need a budget (we have not been operating under one for over 800 days) and the debt ceiling crisis did not just come up. If those in Congress cannot get their act together quickly, then we will vote those bums OUT and put in people that can.

      • Edgar Friendly

        Why is it you people always bring up racist things like the KKK? “racist slant”…you are the racist. No where in the article does it mention skin color fool.
        First of all, if you knew real history, you would know that democrats started the KKK.
        MLK was republican – the civil rights legislation was passed by republicans.
        Now, forgiving your ignorance, your democrat leader Debbie whatsername-schultz one month ago said “we own the economy”…”we”, as in democrats, obama, YOU.

        Your political and historical knowledge gets the same grade as your education: FAIL.

        but I suppose that’s racist too. Everyone disagreeing with you is racist. In all 57 states. And all the news corpses.

        (tip to Dr Pepper)
        “I’m a racist.
        He’s a racist.
        She’s a racist.
        We’re all racists.
        Wouldn’t you like to be a racist too?”

        A wasted mind is a terrible thing.

      • lyn

        Correct this is actually a Clinton recession, once the fawning all over the newness of the internet, Y2K, and the housing bubble caused by Clinton relaxing the rules so banks were giving to people with no variable income, people not even legally in the country, and recommending that you take a couples combined salary and could get them a loan at 50% of that with no down payment we were doomed. In 1997 it was projected to be crashing down by the mid 2000’s, it was already starting to happen, Bush may not have done much but Bush also didn’t control the senate or congress after his first term either and during his first term he was dealing with the aftermath of 911. Under Obama gas prices doubled and in many cases even getting a simple head of lettuce and gallon of milk did as well along with people losing their jobs. Now comes a mandate over healthcare not even an option open to everyone where people can receive healthcare at a reasonable amount and not get turned away for having a preexisting condition, but a mandate meaning you have to have what they feel you should have or your risk penalties by the IRS, this is causing insurance and everything else to go up. I won’t even get started about how I actually think a country like China of all places has their healthcare correct, but that is less profit driven and as long as big pharma and fast food is around that won’t happen here.

        Disagreeing with Obama hardly makes one racist, but the fact that you Sniffit can’t handle an adverse opinion against someone you obviously approve of does. Do you realize that under Bush more minorities became first time home owners only to have it stripped away under Obama?

        Sadly neither party truly care about middle income or small business. Instead of bailing out banks and other big business and handing another big business a ticket to increase their rates over 20% in many cases yes I’m speaking of the Insurance industry, they should have been helping middle income and small businesses more, maybe with student loans or grants to encourage display workers to try to start something, anything to finally help middle income and small businesses since they are the back bone of the country and the one’s that pay the most in taxes and get the least breaks.

        And another section this is hurting big time is the college students and elderly, those with limited income either because they are trying to study to enter into society as a functioning adult or because they have already been there and deserve to now retire and with gas and food prices they too are having a hard time even going to the dollar store to get some small incentive. Obama came in saying he was going to make all these changes and the only thing he has successfully done is allowed food and gas prices to continue to rise and insurance companies to nail everyone thanks to his new law that as Pelosi kindly put it you had to vote on the 2,000 page bill to know what is in the bill, huh, shouldn’t you read it first then vote on it? I don’t like either party, and I blame both parties for this mess but that doesn’t make me a racist, remember Obama is half white.

      • truth

        obama and bush are exactly the same. You cant describe one without the other. Wake up Sheeple.! There isnt a left or right and there never was. for everyone that is blaming one president or the other you sound like you are descibing the same guy. the guillotine is just about in place over all our necks.

      • Sniffit

        Wow look at all the Goppers copy and pasting what Rush Limbass told them too.

        So full of factual errors and ad hominem attacks by claiming I called them racist.

        I’m sorry but I didn’t. But if you want to bring that up, then I guess you are the racist ones.

        It is FACT that most Americans put the economy’s problems as due to Bush and his doubling of the deficit (note: Obama has come nowhere close do doubling it since 2008).

        You crybabaies are just said that after Obama caught Bin Laden his approval went back to the high 60s


      • Bdoxx

        This depression has little to do with Obama or G.W.Bush. It can be blamed almost entirely on short sighted and irresponsible business practice by U.S. corporate leaders over the last 20+ years. Unable to see past the next annual or even quarterly earnings report, they have gutted the U.S. manufacturing base and shipped it overseas putting millions out of work and crippling US tax revenue. Cutting the corporate tax rate has infact created millions of new jobs.. in Mexico, China and elsewhere but not here. Time to pay the piper.

      • Bonnie

        That’s right ! How long did it take for Bush to finally admit that the economy was in bad shape ? If I recall correctly he was in total denial saying that there was nothing wrong with the economy. Talk about stupid !

      • John Breland

        My confidence is always inspired when people drag out the tattered old race card, especially when race is not even the subject. It means they’ve already lost the argument and have nothing else meaningful to say.

        Sniffit, has it ever occured to you that people might actually disagree with your President on policy grounds? Seems that when it comes to making distinctions based on race, the Left has a monopoly these days. Maybe that’s instructive about who qualifies as the real “racists” in the room.

      • bigtimeliberal

        i thought the fools only posted on huffpost /aol. i guess when your a lemming and the piper says the same ole thing over and over your eyes glaze over and you keep blaming bush . the only so called americans that believe it isnt obamas depression are a small minority

        ask your friends and neighbors are you better off now than you were before obama took office. only the lemmings will continue to say with glazed eyes yes, yes yes master yes.

      • AnimalFarm

        You lose your stupid argument when you pull the race card, you Obamatron. The “Bush Depression” started when the demonrats took over congress in 2006. Bush did too much of what demonrats do, like expand the size of government, give out “freebies’ (remember the $600 stimulus?), signing stupid energy bills, create the TSA. Had Bush been a true conservative, instead of trying to out-democrat a democrat, people wouldn’t have been furious in 2006 and put demonrats back in charge as pay back. Of course, one can cut off his own nose to spite his own face. We went from the frying pan to the fire. Frank and Dodd are responsible for the housing and loaning disaster. Bush brought up the problem in 2004 and Frank had a cow, screaming that Freddie and Fannie were just fine. Obama has put a recession on steroids and if it isn’t a depression it sure is a double-dip recession, with no end in sight, no hope of it getting better with the Obama Regime in charge, which is doing all this damage and destrucion by design, on purpose.

      • AnimalFarm

        Sniffit said, “(note: Obama has come nowhere close do doubling it since 2008)
        Damn right, Obama has quadrupled the deficit in just 2 years from what Bush had increased it in eight. Whatever you’re sniffing, put it down… not that it will matter much, liberalism is a mental disease.

      • tomtheplumber

        You live in a fantasy world “sniffit”. And what exactly is it you sniff, cocaine? Like your Messiah Barry? Barry has been in control for 2.5 years now and has made matters worse. He had no experience that would qualify him to lead the greatest country in the world and he’s blowing it with his oppressive policies. I believe he’s doing it ON PURPOSE. It’s no longer Bush’s recession, so stop pointing your booger laden fingers at everyone else like liberals ALWAYS do. Time to man up and take the blame!

      • Sniffit

        wow animal farm you sure know how to fail

        National Debt pre Bush: 5.8T
        Post Bush: 11.9T = just over DOUBLE

        current Debt: 14.5T = increase of only 22%

        WHOOPS. Facts win!

      • tomtheplumber

        lyn, you are abso;utely correct!!! Hear it in Clintons own words…..

      • Jim

        This is not Obama Depression. The recession is a result of Bush, his staff, and the greedy private corporate world. Bush turned a blind eye to what was going on in wall street and all the corupt financial institutions. Bush did not enforce the regulations and oversight that were in place to these institutions/process by the Clinton administration. Bush is the one to blame and will go down as the worst President in modern times. OBAMA for a 2nd Term!!!

    • Bill spill

      Read the article again. They are hurting because people that would normally come in with 12 dollars, are now spending only 8. So if store is jammed or not, that’s not the issue, the issue is how much is being spent.

    • marquis56

      not buying what, the writer said that people who used to spend twelve dollars now only spend eight dollars because they don t have the other four dollars or it went to put gas in there car or food on there table. why are you jumping down his throat, you can still have a lot of people with less money, oh wait isn t that obamonics, me thinks that you seeing this as an attack on the chosen one,

    • Erik Olson

      I spent a lot of time and money in my local dollar store and other low price markets starting in 2007 and peaking in 2010 — I’m starting to spend more of that money in regular grocery stores, and even upscale stores. On a more macro scale, earnings reported by supermarkets like Publix and Morrison plummetted in 2009 but have been steadily on the increase.

    • War Planner


      ..can’t top this! Won’t even try! Good job!

    • Widow10

      And, why, pray tell, should we believe what you are saying? At least the story has sourcing behind it to back it up.
      Time to replace America’s present CEO period.

    • MichaelH

      So you see the stores jammed…do you also see what’s happening at the cash registers?

      Do you get one, or two gold stars for sticking up for Obama?

      • Amy Sterling Casil

        I think Bonnie’s application for redistributed income is already complete and she’s waiting for her Obama Dollars to shop at the Dollar Store where she lives. I’m sure she’ll like all the choices she is offered. Like Soviet “pine flavored” gum, wood-flavored gummy bears and grass jelly. She can pick up a one-size-fits-all plastic rain poncho . . . oh wait! Who needs that – with global warming and all, it’s never going to rain again.

    • Realist

      Actually retail stores are doing relatively well.
      All the right wing dupes all full of false “facts”.
      Businesses are not adding help because they don’t need them. With increased demand they will hire. How to get increased demand? Increase the disposable income of the poor and middle class who immediately spend the money creating demand and jobs. Will a tax increase on the wealthy to more historical rates (when the economy was doing well) will NOT hurt the recovery. The wealthy merely invest their money where they will get the best return, think BRIC countries. The uneducated tea baggers have been recruited my the wealthy and those they own to protect their wealth and power and the expense of the Country with lies and false fears. They trow around terms like “Socialism” without even understanding the concept.

      • Jack Kennedy

        sucks to be you …………… one of the obama mob of America hater, out to defend obeyme

      • babysitter

        You are the one without a full grasp of economic concepts.

      • lukuj

        Are yu living in the world of reality? Talk to store owners. Unless you live in a utopia somewhere, they will tell you sales are down. Many have cut hours, laid off workers, or didn’t hire the summer workers they usually hire. Talk to the teens who couldn’t get their summer jobs back this summer. You are believeing the pap that comes from the mainstream media and Obama administration.

      • Realist

        I didn’t vote for Obama I voted for McCain whom the right wingers torpedoed.
        I also voted for both Bushes and Nixon. But I think for myself. Any fair minded person can see Obama is making rational attempts to fix the economy if only for reasons of self preservation! The crazy hateful comments about Obama attempting to destroy America are lunatic and unamerican. These crazy assertions are the real danger to America.

      • a REAL Realist

        Dissent is ‘unamerican?’

        Come on.

      • Scott

        you have no clue of what you are talking about- here are some economic FACTS for you coming straight from a guy who just sold his 10-year-old business because of all of the new red tape this clown has added. Businesses operate under what is called “rational Self-interest”. In other words, they operate to make a profit for themselves and their share-holders. It doesn’t make ANY sense to take capital from entities that already aren’t hiring because the demand isn’t there and give it to consumers who not only didn’t EARN it, but will also SIT on it in the form of savings which has been the trend through this depression- what you are proposing is a vicious cycle that is a historically PROVEN failure? The only way to grow the economy is for government to get the hell out of the way and allow businesses to operate just as they did during economically good times. By the way, the concept of Socialism pivots on the cornerstone of central government planning- with the new Federal Health Exchanges and new regulations on private industry are you actually saying that is NOT what the Obama administration is attempting to do? Combine that with the fact that he is LITERALLY SAYING that he wants to redistribute wealth (shared sacrifice of the rich) and that proves that YOU are the one who has no idea of what Socialism is.

      • va

        What a load of dung. Since 2006 when the dems took over congress and the GOP started cowing to their demands even earlier than that when they started losing seats, this country went from very prosperous to the utter failer it is now. You guys had your chance; now it’s time to move out of the way and let the big boys take over.

      • Scott

        yep- everyone forgets about 2006- the Republicans turned over congress with a 4.7% unemployment rate. I wrote this number down when it happened, because it stands to reason that a bunch of people who not only do not understand basic economics, but also don’t understand the meaning of THEFT would ultimately give us the current economy we have now. Common sense said this was going to happen….

      • Victor Rodriguez

        So eloquently put yet so incorrect. If you think a socialist country is the way to go then how about you move to one and leave this one to all the uneducated conservatives. Can you please name me one socialist country that is prospering and the majority of the population is happy to be socialist? Remember, in these countries the media is controlled by the state so naturally everyone is happy in North Korea according to the North Korean Government. I don’t even know why I bother because Liberals are allergic to facts and don’t want to hear them.

      • Scott

        I wouldn’t call it eloquent Victor…he’s using 6th grade language to describe 8th grade economic logic at best… I have to agree with you- there isn’t ONE Socialist country that these guys can point to as a beacon- they will probably claim Canada, but outside of their healthcare system, they don’t have anywhere NEAR the welfare liability and government intervention in Industry that the U.S. does…

      • Edgar Friendly

        Did you learn that economics at PS19? In years of teaching I have never heard anyone explain it quite that way.
        And why don’t you explain Karl Marx to all of us who don’t have a clue?
        Especially those of us who have lived in socialist countries? Tell us who have lived there how we are wrong…that it’s a truly beautiful utopia and the government creates wonderful jobs and everyone is equal and free and we follow behind the unicorns to get our roll of toilet paper and loaf of bread for the month. And the fairies bring us our potato for the day each morning.

        geez, you academic wannabes are a trip.

      • Tamara

        I don’t know where you live where retail stores are doing well. It seems every week, I see another retail space with a new “for rent” on it. Last week, we stopped by our favorite Quizno’s like we do after church about once a month. Empty. This week, the massage place near to the grocery store where I shop was empty. And the martial arts studio.


    • Amy Sterling Casil

      LOL! Zing –

    • Jon Lussier

      Two closed in my city in the state of Washington. I think it was a
      particular chain.

    • Amy Sterling Casil

      I live a couple of miles from the beach and have avoided going down all summer long, figuring it would be way too crowded. Last evening, I did go and I could barely tell the difference between high summer and the “off season.” Restaurants totally uncrowded, shops with no one shopping, and maybe half the normal crowd on the beaches and bike paths. Everyone must be at the more upscale resorts, right? Oh wait – it IS an upscale resort. Last month I went to stay on Whidbey Island in Puget Sound, and it’s supposed to be a “tourist” area. Only – there weren’t very many tourists. The ferry line was easy to get into, hardly any waiting. I guess people must have been at the more upscale areas . . . oh wait – that’s an upscale area too.

    • willie

      You don’t live where I live. They ARE struggling in my town. Dollar Tree has shut it’s doors. Main street is like a ghost town in our town of 15,000.

    • Taipan2900

      Bonnie, One thing is for certain CBS is calling it the”OBAMA” Depression. The truth will set you free..

    • HPS

      Listen we make more than $40K a year.. and any time I go in a dollar store which is OFTEN.. I USE to spend $80 or more.. my husband always laughed I spent MORE in a dollar store than are regular retail store.. Reason is we have 3 grown kids and 6 grandkids and the GIRLS love hair products which are reasonable at $1 than you have yard decorations and seasonal outside decorations again reasonable at $1.. so if they get ruined or stole it’s not going to put me in the poor house.. I also buy things to give to charity.. NOW I spend approx $400 a year.. I have cut down and this year I spent thus far $100 total.. saving my money to help buy the grandkids school supplies if needed.. Yes the $1 stores are still busy but people are BUYING less.. get it?? and FOR ONCE.. they have it RIGHT we are in a DEPRESSION not a RECESSION.. when the we were told the recession ended they were almost telling the truth they FORGOT to mention we are now in a depression..

      • Sniffit

        The recession ended in July 2009 when there was growth in the country. There is no recession. Economists agree on this. Talk your Obama hating GOP bilee elsewhere

    • tuu

      Bonnie, they didn’t say the stores are not still being visited, they are saying people are not spending as much. Reread the story.

    • General Patton

      Good afternoon Ms. Bonnie,

      To clarify, the article outlines two important factors; missed quarterly earning projections and decline of discretionary income due to monetary devaluation and increase cost of living.

      Meaning, profits, minus fiduciary obligations, caused the Discount retail sector to fail in meeting Wall St. expectations despite an increase of customers/sales.

      As a result of elevated commodities prices, transportation and various monthly expenses left the consumer who formerly purchased $12 worth of goods decreased to approximately $8, hence the missed projection.

      Bearing in mind the average income of discount store constituents is on average $40k.

      To conclude, three quarters of the population see a bleak economic picture under POTUS Obama and the future forecasts aren’t encouraging. I hope this helped.

    • harleyrider1978

      As the man said,their spending less when they come in! Has nothing to do with less customer base!

    • Jim Phelps

      So Bonnie math question.

      If before the Obama depression 100 people would spend $12.00 and now in the Obama Depression the same 100 people only spend $8.00. Is the store making more money?

    • chloe

      agree. our $ tree is always cramed with people. hey, its cbs and los angeles to boot.

    • JenB

      Just because a store is jammed, no matter what time of day, does not mean that these people are buying as much as normal.

      I own a small business and we are busy every single day, same level of customers as always. HOWEVER, people are not spending as much as they usually do. Thus, we aren’t doing as well. I suspect, that is the same in this situation. Unless you are actually seeing the sales #’s of these stores, there is absolutely no way to determine if they are still selling at the same level.

      I am actually dumbfounded by your logic.

    • lynn

      They may be jammed with customers, but they are still charging .99 for a loaf of bread, just like they did a year ago and the year before that, and the year before that.

      Kind of hard to hit the earnings target when you are locked into a price of .99 or $1.00 per item but the price of goods keep climbing.

    • James

      Bonnie, the author says the number of people coming into the discount stores is the same. You are correct on that point. However, the article says the customers are buying less due to less $ to spend.

      The home I live in was valued at $295,000 in 2008. That same home is now valued at $184,500. The proof is in the pudding.

    • rustyb

      We are not in a “Depression” or a “Recession” as defined by economists ( 2 straight quarters with negative GDP growth). GDP has been growing steadily for over 2 years now. The reason people are still out of work are because of Productivity increases allowing for growth without the addition of new employees. While this sucks for the labor market it does take away from the fact that the economy is improving

    • desperado49

      and it was the Dems who insisted that banks loan money to people who cant afford houses you idiot, and Bush was dealing mostly with a democratic senate and house.

    • Leroy Whitby

      Bonnie, food prices have gone up around 30% this year. Gas prices the same. When you are on a fixed income or your income is getting smaller (fewer hours or business is down or you are a salesman in a depression) you have less money period. You’ll still shop at the least expensive place. But you don’t have the money to spend. Trust me.

    • truth

      RON PAUL is the only person who will keep people free!

    • Matt Leonhardt

      Guess it never crossed your mind that some people are eating less…

    • Bucko


      In your world, bologna is filet mignon, and Dear Leader is doing a wunnerful job. That about it? Anything else to add?

    • Jeffrey

      Bonnie, we are talking dollars spent PER VISIT. This is vastly different then what you are describing. Yes, they are still very busy – just not spending as much.

    • Michael

      Why is it called the Obama Depression. Weren’t we in bad shape in 2008 before he took office?

    • robertsgt40

      Have no fear. Ben says those “green shoots” are resprouting…soon. And that 9.2% unemployment? Sure. Make that 22%. And we’re getting ready to up the debt ceiling? Why have a ceiling? Then spend another 1.5 trillion we don’t have. And on top of that we”ll has fewer tax revenues. Now THAT’S how you tank a nation.

  • Sean

    I guess you didn’t actually read the article: “While the demand at stores like the 99-Cent Store or Dollar Tree is still relatively high…”

  • steve

    But the liberals told us Obama was the one!

  • steve

    bet you live in your mothers basement girly man

    • Chris Chrisley

      who are you talking too?

  • Don Bailey

    The interesting thing in this article to me is the fact that CBS LA refers to the current economic woes as “Obama Depression”. Is it possible that the media is starting to lose its allegence to Teh One?

    • pooflinger

      yeah I caught that too. That was very interesting…..They are trying to tag him with it….Oh im sure his reps put in a call to CBS to stopt attacking the annointed one.

      • PolitiPorn

        If only you read things a little closer. CBS didn’t call it “Obama’s depression”. The republican shill they interviewed did.

      • CONNECTICUT SSN 042-68-4425

        Why does the number above belong to Barry?

        The USA is being PUNKED, B***H SLAPPED, and has the starring role in a JACKA$$ Movie!

        Meanwhile, the media, congress, and FBI, all look the other way.

      • Jack Kennedy

        oblamo and his minions in the obama mob of America haters will now ramp up the LIBERAL VITRIOL AND HATRED toward the real Americans

        demonization by obama starting in …3……..2…………1…………

    • Sunshine

      haha ‘PolitiPorn’…nice name LOSER

    • Realist

      Wake up. .Large economies take years for policies to show results. There is no doubt that Bush’s policies put us on course for a poor economy and the bank crisis pushed us over the edge. Clearly what needs to be done is painful spending cuts paired with revenue increases. The current problem is a political one not an economic one. The GOP, held hostage by the extreme right, lack the courage to do their job. Politics is the art of compromise.

  • Greg

    Yes but that’s not the point really with all due respect-

    You could have a line with a hundred people in it, but if all or most of them are on average spending 4 dollars less than they were a year ago or whatever, THAT is the point- The money coming in is still reduced-

    Just my 2 cents, whoops, now it’s one cent-

  • Kenny West

    No need to put quote marks around “Obama Depression.” It is an accurate statement, though you might want to include Pelosi and Reid.

    • PolitiPorn

      Nice make believe world you live in Kenny. One where Bush left office with the balanced budget and surplus (oh wait that’s what he came into office with, but soon ran up an unprecedented debt). Nighty night, little Kenny.

      • Bucko

        A triple post from sniffer and a Wikipedia link. Gee, I’m sold. It’s all Bush’s fault. Got it. Never heard that one before.

      • fleabagger for obama

        …meanwhile Barry the Manchild has tripled the deficit and got us in a third war.
        did your mom tell you it was bedtime PolitiPorn?

      • jd2

        bush entered office in the clinton recession, and quickly fixed it ;till the dems took congressand sent us into this current mess (fannie Mea ,Freddie Mac and the community reinvestment act )

      • Jack Kennedy

        poliporn ……………. is that you – oblamo

        do the job of blaming all else for obama incompetence/corruption ……..

        or just one of the obama mob of America haters

      • Kenny West

        It might surprise you to know I’m no Bush fan either. However, you should get your facts straight before you comment. The debt under Obama in just two and a half years is GREATER THAN ALL PREVIOUS PRESIDENTS COMBINED. Good night, little uninformed socialist.

      • Sniffit

        there you go again Jack…who’s no Jack Kennedy at all.


        Really? What next? Should we lynch them?


      • Sniffit

        JD: You mean the recession of 2001 that started several months AFTER Bush took office?


      • Sniffit

        Also note JD that “without the 9/11 attacks [thank you Bushie], the economy may have avoided recession altogether.”

        So hmm, it was a recession that started under Bush that could have been prevented by Bush. Sounds like a Clinton fault to me HA!

      • Sniffit

        way to avoid the FACTS bucko.

        You guys got caught lying again and so it’s on to ad hominem attacks.

      • george spigott

        “JD: You mean the recession of 2001 that started several months AFTER Bush took office?”

        If you were awake, instead of depending on Wikipedia for accuracy, you’d have noticed the economy started stinking after 7 1/2 years of Clintonomics.

  • Chief568


    Sure…apparently we can wage war on the American businessmen…at least until they decide they’ve had enough and either close their business or move overseas.

    • swelike

      You mean the same American businessman who has been waging war against 95% of the U.S. population for the past 30 years? And winning handily thanks to both political parties. Good riddance, I say! Maybe we could stop buying their products and stop their tax breaks that fund their exorbitant salaries. Have fun in lawless Somalia.

  • Jeff in TX

    Maybe. What country do you live in?

  • Davis

    Maybe they should raise their prices. :P

    • Erik Olson

      Yeah, all the need to do is “increase revenue”

      • John

        By revenue you mean TAXES?!!!

    • Lalaland

      So that the poor will have less. Which is exactly what will happen if you increase taxes on the rich.

      • Realist

        All the right wing dupes all full of false “facts”.
        Businesses are not adding help because they don’t need them. With increased demand they will hire. How to get increased demand? Increase the disposable income of the poor and middle class who immediately spend the money creating demand and jobs. A tax increase on the wealthy to more historical rates (when the economy was doing well) will NOT hurt the recovery. The wealthy merely invest their money where they will get the best return, think BRIC countries. The uneducated tea baggers have been recruited by the wealthy and those they own to protect their wealth and power and the expense of the Country with lies and false fears. They throw around terms like “Socialism” without even understanding the concept.

    • American

      if they follow the obama model, of killing the economy, they will raise prices as the liberals want to raise taxes ………… make up the deficit dont you know

      oops, less in sales cuz prices higher ………… then they will call oblamo for helpa

  • jane hedges

    By your name, I can tell you have probably no education nor class.

    • Dave Shaffer

      *neither education nor class*

      • 1STMAN

        Stupid illegals are bringing this country down thanks to the liberals who have made it a sanctuary to be here and dry up our tax money meant for “real Americans” not illegals or redskins!

      • Ren

        So, who was President while the problem became systemic?

        Do us all a favor Fakwad and stick your head back up your arse.

  • Hank Warren

    Obama’s economic policies (including Obama/RomneyCare), yet another violation of our rights. Add it to the list of gov’t violations of our rights:
    They violate the 1st Amendment by placing protesters in cages, banning books like “America Deceived II” and censoring the internet.
    They violate the 2nd Amendment by confiscating guns.
    They violate the 4th and 5th Amendment by molesting airline passengers.
    They violate the entire Constitution by starting undeclared wars for foreign countries.
    Impeach Obama, vote for Ron Paul.
    (Last link of Banned Book):

    • Erik Olson

      Nobody banned that dumb book. It’s just a bad book.

  • Mike

    Obama is an imbecile.

    • Michael

      so what do you think of Bush and Clinton’s Presidencies?

  • TxWrstmkr

    More and more people are planting their own fruit and veggies and raising their own livestock (rabbits,chickens in small areas), in order to save money. They are not doing this to “Save the Earth”. It is become a survival thing. More and more people are getting their canned goods and toiletries at dollar stores why? To save money. Spending less, take note you Marxist Potus.!

  • Tom Rivas

    Obama = Most Dangerous Man in America. His goal is to bring us down to the level of third world nations as he believes his absentee daddy’s philosophy that any US gain was due to losses in the Third World.

    In this regard, the most dangerous man is winning.

    • va

      He is either the most dangerous or the dumbest man in the US. Either way America loses.

  • Paul

    Obama and his administration are incompetent and corrupt. America has no hope as long as they are in control.

    What is good for America is bad for democrats. What is good for democrats is bad for America.

  • Rob

    Since the dollar is weakening, the $1 item the store sells now costs $0.70 to buy, instead of $0.50 (numbers estimated). Now these stores are only earning $0.30 per item instead of $0.50, accounting for the loss in earnings even if sales are the same or higher.

    • Lalaland

      Who decided to weaken the dollar? Your saviour Obama of course. Go ahead and re elect him.

      • Sniffit

        You mean the dollar that weakened by over 50% compared to the EURO between 2002 and 2008 before gaining back 15% between 2008 and 2011.

        That’s Obama’s fault? Wasn’t Captain Whitie president then?

      • george spigott

        Sniffles, your racism and brain damage are showing. I doubt as though you will be able to understand the folllowing, but if you try, you might waste less typing energy, along with wasting less of the reader’s time.

        During the 1960s the UN produced the “International Convention on the Elimination of All Forms of Racial Discrimination” that proclaimed that all people had a “right” to housing. The Johnson administration supported the treaty, but it was not ratified until Bill Clinton was president. To meet its obligation under the U.N.’s Racial Discrimination Treaty, the Clinton administration instructed Fannie Mae to expand loans to low income borrowers.

        Democratic Rep. Barney Frank was a member of the House Banking Committee, which had oversight of Fannie Mae. It was decided rather than income verification, a welfare check stub or enrollment in a credit-counseling program were acceptable as proof of ability to make mortgage payments. Government-guaranteed loans were extended to millions of families that normally could not qualify for a mortgage.

        AIG, the international insurance giant, and other Wall Street and international financial institutions bought bundles of mortgage securities that Fannie Mae and Freddie Mac offered. The foreclosures skyrocketed. Suddenly there was little value in the bundles of mortgages. Financial institutions found themselves in possession of massive assets that had little or no value.

        During this period, Fannie Mae and Freddie Mac paid large sums in political contributions. Three of the largest contributions went to Democrats, including Chris Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee, Sen. Barak Obama and Barney Frank.

        The cause of the current meltdown is clearly the Democrats’ insistence upon giving federally guaranteed mortgages to people who could not afford them. Despite the U.N’s declaration to the contrary, no person has a right to housing. Freedom and free markets didn’t cause the financial collapse. Socialism did, and now socialist policies are forcing all taxpayers to pick up the tab. Barry picked up where his buddy Willie left off.

        Bush raised several red flags about the sub prime regulations. In April of 2001, submitting the 2002 budget request he stated that with the size of Freddie Mac and Fannie Mae, governments sponsored enterprises or GSEs, are a “potential problem” because financial problems with them could “cause strong repercussions in financial markets”

        In 2003 Bush stated a more stronger point for regulation to congress by saying the GSE’s are now a “systemic risk” that could spread beyond just the housing sector.

        Check out CSPAN in the Fall of 2003 when the White House was pushing Congress hard to create a new federal agency to REGULATE and SUPERVISE both Fannie Mae and Freddie Mac. Then Treasury Secretary John Snow in Sept. 10,2003, was getting big time resistance from none other than the Democrats. Barney Frank responded that Freddie Mac and Fannie Mae were not in crisis, everyone is over exaggerating the problem, and even went on to say that the government should do more to get low-income families into homes. He stated the people conjured up a threat of financial losses, adding that “I do not see”.

        Barney Frank said the GSE’s were financially sound . If there was a problem, Frank stated “The Federal government won’t bail them out”!!!

  • zebulon

    I was in a dollar tree in boone, nc yesterday and they had 20 copies of harry reid’s book for $1 each. No one was buying them. I think that should be the motto of the USA, don’t buy what the dems are selling.

    • Perspective

      heee hee..I really like this comment. Thanks for the chuckle

  • ObamasFeetSmellLikeCornChips

    “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.”

    I say find these people that can do all their shopping for $12 at a dollar store and put them in congress..

    That’s change i can believe in.

    PS. Obama is an utter clusterF*ck of epic proportion

  • Analyst: Even Dollar Stores Struggling In ‘Obama Depression’ « CBS Los Angeles – Almost Free Food

    […] Analyst: Even Dollar Stores Struggling In ‘Obama Depression’ « CBS Los Angeles. This entry was posted on 11/07/2011 (Monday) at 6:24 pm and is filed under Uncategorized. You […]

  • Lalaland

    Yeah and I am sure you losers will re-elect him because you are brainwashed by the main stream media. Quit complaining and live with the consequences.

  • Always Independent

    Whats going to happen to all those saved gov’t union jobs when the stimulus money runs out.

    • TinaRocha

      The Stimulus is over with the program running on empty. This was a typical one shot deal by my ex party. As opposed to tax payer money going to shovel ready jobs as promised or even to effective training programs, it went to the Unions to temporarily shore up pensions and basically purchase companies for them i.e. GM/UAW. After the Obama emasculation of 2009 the Unions said, we put you in office now FEED ME! And Obama did but when the Unions come back for another tax payer buffet, Obama the brilliant will have nothing in the crystal chafing dishes with the champagne fountains of pension security hushed. Stay tuned and get ready.

  • BusinessKillingCA

    Best to create your own income and to not wait for a “recovery”.
    A big junk of these jobs are not coming back and $ stores/ Walmart are a big reason why.
    These stores are filled to the rafters with China’s junk.

    We really have to ween ourselves of China’s cheap garbage and manufacture again.
    We went from worlds largest producer, to worlds largest consumer….with an ever increasing credit card max too boot.

    These jobs aren’t coming back anytime soon.
    I know this, so I created my own income.

    • Ron

      Hey Paul, be carefull. Scamming desperate people of their last penny might bite you in the a$$ in the end. Herbalife might end up causing you a slow, lonely deteriorating road to hell. :(

  • deavolos

    you stick governments hand in and everyone will hurt

    • Perspective

      Yup..I used to be a leftist and believe the trash about Reagan, but he is looking better and better with his statements, like
      “The scariest sentence in America is “Hi, I am from the government and I am here to help.”

  • gneubeck

    When your confronted by the 24/7 Obama manure machine spreading their outright lies about all of the wonderful results of the Obama Marxist economic policies, you only need a single statistic from the Administration’s own ‘Bureau of Labor Statistics’ to clear away the thickening fog. I.e. 2.4 Million more Americans on Obama’s ever inflating unemployment lines as of June, 2011 than when Obama issued his economic stimulus plan in February, 2009. Obama provided a significant clue when he said: “I am uncomfortable with the concept of profit.” Profit of course being the prime motivator in a free-enterprise economic structure. Simply ask yourself the question: Faced with intentionally escalating energy costs; and, other profit-killing onerous regulatory burdens, as well as the threat of still additional tax increases, would you as a business owner be considering further investments and job creation? More than likely you would be taking the prudent course of fiscal constraint; and, an increasing of reserves. This man must be excavated from the WH soonest. Greg Neubeck

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