YES, people are spending, but are they going to pay their charge card bills in January? That's the real question. There is a mindset to over do on Christmas, and worry about the bills later...... and later is going to be more lay offs, higher taxes, while the cost of goods go up.
ALL those seasonal jobs will soon be gone, employers are going to be finding ways to avoid Obamacare by reducing full time to part time, or asking more employees to do more to avoid hiring.
The cliff is NOT going to be avoided, no matter what happens in Congress next week. the sleeping public is going to be rudely awaken from the Obama dream, and it'll be a nightmare.