There is more to this story than what you might read in this Bloomberg article.
Specifically, a number of states, including Florida, have pushed their back-to-school sales tax holidays into August this year, and a number of other states, Oklahoma comes to mind, have introduced ack-to-school sales tax holidays in August, and the retail was still sluggish.
The recession has started, and we are like the headless chicken, still running around.
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