The Economy: Spending Less & Saving More

As far as merchants are concerned, one of George Washington's more productive accomplishments was being born on February 22. Daddies are home, mothers can shop, and the day has become an oasis on the wintry sales route from Christmas to Easter. As a result, Washington's Birthday sales have become an extravaganza of bargains, and shoppers last week lined up early outside many a store, waiting for a crack at 99¢ typewriters or $7 television sets. By day's end smiling storekeepers reported sales up as much as 20% over the same day last year.

The increase was a welcome relief not...

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