Obama visits bookstore, promotes "Small Business Saturday"
By Margaret Chadbourn | November 25, 2012 7:42 AM EST
President Barack Obama, in a bid to show support for small businesses, took his daughters on an early Christmas shopping trip on Saturday as the U.S. retail sector swings into high gear this holiday season.
Promoting "Small Business Saturday," the third annual event that encourages consumers to support independently-owned local shops, Obama took his daughters Sasha and Malia to "One More Page Books" in Arlington, Virginia, a suburb of Washington, D.C.
"Preparation," said Obama, while talking to the store owner at the front counter and looking at his BlackBerry, apparently checking book titles while his daughters stood at his side. "That's how I shop."
Over the last two decades, small businesses have created two of every three U.S. jobs. To try to spur job growth, the Obama administration says it aims to cut taxes for small businesses and expand entrepreneurs' access to financing.
Both Main Street merchants and larger retailers will find out soon if the so-called fiscal cliff that threatens to produce tax increases and automatic spending cuts in January will subdue shoppers and hold back spending this holiday season.
Congress and Obama are about to negotiate on a deal to avert the roughly $600 billion in tax increases and spending cuts set to start jolting the economy at the beginning of 2013.
Asked by reporters what is needed to cushion the economic impact of the looming fiscal cliff, Obama declined to answer, saying "we're doing Christmas shopping."
The White House said Obama bought 15 children's books that will be given as Christmas gifts to family members.
Last year, more than 100 million Americans shopped locally on Small Business Saturday, according to an estimate by American Express.
Taking to Twitter himself after the shopping excursion, Obama wrote: "My family & I started our holiday shopping at a local bookstore on #SmallBizSat. I hope you'll join & shop small this holiday season."
The nationwide initiative that urges customers to open their wallets to local businesses follows Black Friday, one the nation's busiest shopping days at major retailers falling the day after Thanksgiving.
The Monday after Thanksgiving is known as Cyber Monday, where deals are found on the Internet and is more often a hit with shoppers unwilling to brave long lines.
(Reporting By Margaret Chadbourn; Editing by Vicki Allen)
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Russia's New Tactical Nuclear Weapons Program Growing Confident Against the US: Talks of World War III
- Apple and Google Engage in Thermonuclear War, New Google Translate Chat App in the Works
- Walmart Offers the Best 2014 Black Friday Deals on iPhone 6, iPad Ai2 & Other Gadgets – Reports
- Update Samsung Galaxy S5 to Android 4.4.4 KitKat, Sprint Release and Installation
- More Nexus 6 Problems Arise with Android 5.0 Lollipop, Poor Benchmark Results and Other Issues
- HTC One M8 Android 5.0 Lollipop Release Delayed: Other Schedule and Installation Guide
- Israel''s Al Aqsa and East Jerusalem Issues Threatening Its Multi Billion Gas Deal With Jordan