Fear of losing a job or earnings chills spending for Christmas but does not discourage day to day spending or purchase plans for the home.

Stunned by the financial crisis, consumers moved massively to control the damage by curtailing spending. Now, in the immediate aftermath of the election, restraints are being loosened a bit. Spending for day-to-day goods, as well as major purchases, eases.

Much discussion in Congress and from the presidential candidates is being heard about protecting Main Street from the financial crisis on Wall Street. The pain is widespread, but is affecting affluent household more than modest-income Americans.

Current buying plans, if carried out by consumers, will make this one of the most difficult retail Christmas seasons in many years. Coming into early October, two-thirds of households (67%) expect to spend less for Christmas this year and just 9% more.

Progress in America has centered on the hope of one generation for the next. Parents dreamed of a better day for their children. Many Americans are still realizing the dreams of their parents, but some are being left behind.