Obama Re-election Boosts Gun Sales

Friday, 09 Nov 2012 02:28 PM

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Four years ago President Barack Obama’s election led to a run on guns spurred on by fears a Democratic administration would enact new restrictions on firearms.
 
While those restrictions never materialized, gun enthusiasts fear Obama will have a freer hand now that he does not have to worry about being re-elected.
 
Anecdotal evidence is showing a spike in gun sales and stocks in companies that manufacture and sell guns are also up.
 
"Sales are up," John Kielbasa, owner of Fernwood Firearms in Hankins, N.Y., told CNN.  "I had a guy waiting here first thing in the morning [after the election.] He came in, bought two AK-47s."
 
He said the demand for the guns was spurred by fears of a new assault weapons ban. Former  President Bill Clinton signed a 10-year ban on such weapons in 1994 and there have been periodic failed attempts to renew the ban since it expired.
 
Bill Anderson, owner of the gun shop Call-To-Arms in Denton, Texas, told CNN that gun owners are expecting more aggressive regulation from Obama.
 
"Being as this is his second and last term, he might do it, because he's not interested in getting re-elected," Anderson said.
 
The potential rise in sales has not been lost on investors. CNN reports that stocks are up for gun manufactures Smith & Wesson and Sturm, Ruger, and retailers Cabela’s and Big 5 Sporting Goods.

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