If there is one stimulus program that has worked for the Obama administration, it's the threat of gun control that has caused gun and ammunition sales to skyrocket. NCIS background checks for gun purchases continue to break historical records, reaching 2.5 million in January and 2.3 million in February. This means that guns have been selling at a pace of about 80,000 per day, or one gun every second of every day.
But wait, there's more. The number of guns being sold may actually be much higher than this. That's because more than one gun can be purchased under one background check. Also, there are unknown quantities of guns being sold in private transactions which do not require a background check.
These massive gun sales have also lead to untold millions of rounds of ammunition being snapped up. Almost every ammunition retailer is experiencing chronic shortages of nearly every type of ammunition commonly used. Store owners are reporting that what little ammunition they have been able to get is being stripped directly out of the packing boxes by customers as they are trying to put it on the shelves. Some ammunition manufacturers, despite stepping up production, are already reporting that their entire production run for 2013 is sold out.
All of this is pushing the firearms industry to well over $100 billion in sales, and employment figures twice that of General Motors.