It seems retailers are worried that parents won't be splurging on back-to-school spending this year.

According to a story in today's News & Observer business section, retailers nationwide are bracing for a lackluster back-to-school shopping season as consumers continue to fret over the struggling economy.

We'd like to know what parents in the Triangle are planning on spending this school year. Have you cut your budget from previous years?

That's what the National Retail Federation is predicting for the upcoming holiday shopping season. The trade group said today that holiday sales will drop 1 percent to $437.6 billion compared to last year's shopping season.

The good news? The drop won't be as bad as last year's 3.4 percent drop. Small blessings, I suppose.

NRF chief economist Rosalind Wells said Americans will focus on practical gifts and stay firm to their budgets this holiday season.

Read more here.