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Obama Contemplates Tax Cuts as Retail Bankruptcies Expected to Soar

Government and Economy Obama Considers $310 Billion Tax Cut Faced with a recession that could slide into deflation and stagnation, President-elect Barack Obama is preparing to ask Congress for as much as $310 billion in tax cuts as part of his massive economic stimulus package. Retail Bankruptcies Expected to SoarThe disastrous fall in 2008 retail sales is certain to cause mass bankruptcy filings and store closures in 2009, said Michael Burden, an executive with retail adviser Excess Space Retail Services, with California, Florida and Nevada among the hardest hit. Management and Financial Issues...

By Charles M Cooper · January 05 2009 small business brief, small business, economy, retail