I read we are well into a 14 month recession, and you can't turn on the tv without hearing about the economy and lost jobs. We are cutting back a little on gifts this year. I've still picked up toys I know my boys will like, but I picked up most things on really good deals. My husband always wants to go all out on Christmas, but I'm trying to convince him otherwise this year. My brother and sister inlaws and their spouses all do a grab bag, so I only have to buy for one person on that side of the family which is good. I've talked to a few friends who are cutting back on gifts this year as well. I just feel it's the responsible thing to do right now.

Forecasters: U.S. in 14 month recession source:

http://news.yahoo.com/s/nm/20081117/ts_nm/us_usa_economy