Politics

Gun Sales Up Under Pres. Obama's Presidency

| by Michael Allen

Smith & Wesson stock was going up on Friday because of strong sales and a backlog of orders that have more than doubled, compared to this time last year, reports CNBC.com.

Smith & Wesson CEO James Debney said: "We are underserving the market at this moment, we all know that, and that's a great opportunity going forward for us.”

Sturm, Ruger & Co. President and CEO Mike Fifer in a statement: "It took us nearly all of 2011 to build one million firearms, but in 2012 we accomplished it on August 15th."

The huge demand for guns may be fears of new gun regulations if President Obama is re-elected, even though in his first term, Obama has loosen gun regulations, not tightened them.

Unlike President Bush, President Obama has allowed gunowners to lock and load in federal parks.

Larry Hyatt, owner of a North Carolina gun shop, told CNBC: "The biggest new group of buyers now are senior citizens. Ten thousand Baby Boomers a day are turning 65. They can't run, they can't fight, they got to shoot."