President Obama Takes Daughters Shopping to Promote Small Business

In order to give small businesses in America a boost, President Obama and his two daughters Malia and Sasha (ages 13 and 10 respectively) went on a shopping trip last Saturday.

Malia, Sasha and Barak Obama

Supporting Small Businesses

The day was promoted as “Small Business Saturday,” and was the second event this year designed to stimulate sales among small businesses.

The Obamas visited the upscale but diverse Du Pont Circle Center in downtown Washington, DC, spending time in the popular book store, Kramer’s.

“This is Small Business Saturday so we’re out here supporting small businesses,” said Obama.

Backbone and Promise

Kicking off what is for many sellers in the US the most important shopping season of the year, Obama signed a letter of support last Wednesday, emphasizing the fact that small businesses are, “are the backbone of our economy and the cornerstones of our nation’s promise.”

Re-election Hopes

The shopping trip comes at a time when Obama’s approval ratings have been wavering. The statistics for unemployment have been stuck at 9%, creating uneasiness about Obama’s chances of re-election in the coming presidential race which is now less than one year off. Obama’s hopes for re-election balance on two legs; one, getting the unemployment figures down, and the other, stimulating the country’s vulnerable economic recovery.

The Obamas bought eight books at Kramer’s on Saturday. Among them were: “Diary of a Wimpy Kid: Cabin Fever” by Jeff Kinney; “Descent into Chaos” by Ahmed Rashid; “The Invention of Hugo Cabret” by Brian Selznick, and the Pulitzer-Prize winning “The Brief Wondrous Life of Oscar Wao” by Junot Diaz.

Photo credit:Reuters/Yuri Gripas

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]