Recession Puts Brakes on Holiday Travel

(CBS)  Alberta Burrell and her family usually spend July 4 in South Carolina. But this year, they're riding out the holiday close to their New York home, reports CBS News correspondent Kelly Wallace.

"I look at my 401(k), I'm losing money in my 401(k), so we have to watch everything," Burrell said.

Nearly two out of three Americans are cutting back their vacation spending this summer. Even though gasoline is nearly $1.50 less than a year ago.

The economy is not the only thing dampening vacation plans this year, so is the weather. This sunshine in New York today is a rarity. It's rained 24 of the last 31 days.

On the Cape in Massachusetts, soggy days translate to empty beaches - and sagging profits. For some businesses, revenue is down by 25 percent.

"They are going to need a strong July and a strong August and a very good September," said Wendy Northcross, with the Cape Cod Chamber of Commerce.

It's drought that's the problem in Lake Travis, Texas, where favorite boating spots are drying up. The water here has dropped nearly 30 feet below normal.

"We're out here three to four days. In a month, we're wondering if we'll still be able to do that," said boater Grace Spears. "The lake is drying up."

Lousy weather and a slow economy are creating a season of discontent.

One bright spot - there are still 81 days left of summer to turn it around.

[sjc_1]

Well DUH!...you do not know if you will have a job tomorrow, so that $5000 trip for the family to Disney World will have to wait another year.

[whitemale08]

President Obama just told the AP that he wants another 'engine' or Greenspan bubble to boost the economy.

He said that the carbon-swaps-tax would be that 'engine' or the new 'British-bubble South Sea Company', that helped wipe out most of Europe and plunged it into a Dark Age for generations.

Folks, I try to warn you with everything I got to listen to Lyndon Larouche and help stop the bailouts of Goldman Sucks and JP Morgan.

Goldman Sucks, JP Morgan, and British Banks like Barclay's Capital needs the bailout money to start this new 'South Sea' bubble which was a complete fraud, like the Dutch 'Tulip' bubble.

The difference about this carbon-swap-tax 'bubble' is that the derivatives to be used in it will kill and reduce the human population by 2/3rds.

Once the American sucker makes the mistake and transfers what's left of their 401(k)s and pensions over to these mega-hedge funds like Black Rock and the Carlyle group for 'green stocks', it's over.

Because then it will be a 'systemic risk' to back out of the 'carbon-swap-tax' bubble.

Please connect the dots folks, don't be a herd of sheep and fall for this Wall Street/City of London scam.

[RCC_Soldaten]

Most everybodys credit card interest rates went through the roof and the lines of credit disappeared. That's a lot of it.

[tincup356]

The great plan to save the economy was designed to clear the books for corporate America, not to help the people.The excuse they used in the beginning to get the money in the first place,,,,,was to come to the aid of the home foreclosure problem,,,,,but instead,,,,,corporate America got that money.....you would think that they would understand how the people sit financially right now and ease up to help out,,,,,But instead massive greed is taking place putting the average middle class American in danger of losing everything they have. Americans had better wake up ,,,,BOTH parties are in conspiracy with corporate America to eliminate the middle class. To refer to ANYONE in Washington as a representative of the people is an out right lie. The loyalty of anyone in Washington is tied directly to money, not to the better interests of this country or it's citizens. What is happening there is MASS TREASON.

[hungry1968-16]

by enriquieGonzales July 4, 2009 5:30 AM PDT
Democrats = Liberal Democrat Socialist and Communist Party.




Translation: "I don't know what the definitions of 'socialist' or 'communist' are, but the leggy Fox News models and bloated talking heads told me to repeat it, so I am."

[Benton09]

He's got his talking points down well like a good little Fox watching 'Third Reichlican' ...Heil Hannity Gulag members! Goose step over to the Fox site.

[azure13]

Hrrmm... Just came back from Virginia Beach. The place was thriving.

However, when everyone is afraid of losing their job at any moment, they won't be spending much. Too much fear.

[Walking_Talking_GOO]

Too bad the dummy Dems had to screw up the economy.....we could all be enjoying vaction right now...

[darthcheney345]

When you watch the Fourth of July fireworks this year, remember that every twinkle of light represents another thousand jobs lost on Obama's watch.

There goes another ten thousand jobs. There go a hundred thousand. There go...

This Fourth may very well be the grand finale of our country.

Will we even be able to celebrate the Fourth four years from now?

Our economy is like Michael Jackson.

It just collapsed on the floor with a cardiac arrest.

And Obama is trying to figure out where to put the Band-aid.

[woeisme1]

I think you were dropped on your head when you were a baby...not too long ago.

[whitemale08]

Your 401(k) was looted, that's why it's 'falling'.

And you can blame Goldman Sucks and JP Morgan.

We tried to tell you that the bailouts of absolutely worthless derivatives and credit-default swaps in the trillions, would not work and bring MASSIVE MASSIVE AUSTERITY!

You can kiss the 'summer-driving-season' goodbye but Goldman Sucks will still pump-and-dump oil prices to loot drivers like they did last year.

[darthcheney345]

You got that right.

Madoff the Democrat was just the scapegoat for the REALLY BIG criminals who are still on the loose.

When will they reveal the names of the other 10 co-conspirators?

I wonder how many of them are named Clinton.

[John_Merritt]

I believe this 4th of July may be the best indicator of what we can expect for the remainder of the year. If there is any daylight, consumers will spend; especially on a holiday. However if they don't that means there is still a ton of uncertainty for the consumer, which means they will put their hands in their pockets once again.

Psychology is the best indicator of most things. If the consumer feels confident they will spend. If not they will save any way they can. There are still too many uncertainties. I should put a caveat out there. The most likely spenders will be those 30 years and younger, because they usually are the most optimistic. They don't have their own pain when it comes to history as most middle age consumers.

Have a great and safe 4th guys.

[darthcheney345]

Day 1 was the best indicator of what a totally incompetent clueless nerd Obama is.

He planned to close Gitmo, but he forgot to figure out where to put the detainees. You'd think a Harvard professor would be smart enough to figure that out.

But he didn't. So he got spanked by his own party.

I knew it was a bad idea then, and I said so.

Maybe Obama better check all his other ideas with me before he goes public with them.

[woeisme1]

darthcheney34,

"I knew it was a bad idea then, and I said so."

====================

Sure you did. Sure you did. LMAO