Gun Sales Could Sky Rocket if Obama is Re-Elected

Gun sales increased sharply following President Barack Obama's 2008 election. From Nov. 3-9 -- the week Obama was elected -- the FBI reported a 48-percent increase in requests for background checks for gun purchases than it received during the same period in 2007.

The pattern has persisted through Obama's four years as President with firearms sales increasing steadily over previous comparable time frames.

Business has been so good for Smith & Wesson, that the firearms manufacturer reports its net income for fiscal first quarter 2012 approached $19 million, up from $2.3 million a year ago, with sales soaring to a record $136 million, up 48 percent from 2011.

Smith & Wesson reported on Sept. 17 that it had a backlog of orders valued at $392 million, up 164 percent from over a year ago.

Apparently, it cannot make guns fast enough. And if Obama wins a second term in November, it and other firearms manufacturers, are bracing for yet another spike in demand for its products.

Gun retailers and manufacturers are expecting a significant rise in gun sales if the president remains in the White House for a second term, The Wall Street Journal reports.

That's because some perceive the Obama administration to be a threat to gun rights, although there hasn't been any substantial changes to gun-control laws under Obama.

One major retailer, Cabela's Inc., has two plans: one if Obama is re-elected, and one if he isn't.

The Sidney, Nebraska-based retailer says if Obama wins a second term they are preparing for a surge in sales from buyers fearful the president would back policies to make buying a gun more difficult.

If Republican challenger Mitt Romney wins, Cabela plans to stock more items such as waterproof boots and camouflage hunting gear.

"If Mitt Romney is elected and there's no perceived threat on the freedom to own guns, people might decide to spend disposable income on things like outerwear instead," said Joe Arterburn, a Cabela's spokesman.