Retailers across the U.S. are wondering if we will come through this holiday season?

Don’t stress out. The chances are that the Latino community will come to the rescue. Historically, Latinos have been good consumers in spite of the lower incomes they receive in this economy.

According to the Bureau of Labor Statistics (BLS), expenditures of Latinos in telephone services increased by 5.7 percent from 2008 to 2009 while expenditures by all U.S. consumer units increased by 3.17 percent. Latino share of the telephone services market represent 13 percent of the total U.S. market.

That’s a lot of talking and these expenditures by Latinos are due to the fact that more members of the family have cell- phones, including teens and preteens.

Another report from the BLS indicates that the auto industry compared to the overall economy is showing real growth. From September 2009 to September 2010, car sales rose 18 percent and sales of light trucks increased by 40.8 percent.

Latinos spent $14.4 billion on new cars and trucks in 2009 or 9.2 percent of all expenditures. While spending on new cars and trucks for all consumers decreased by 0.6 percent from 2008 to 2009, spending by Latino consumers on new vehicles rose 28.8 percent.

This growing consumer power of Latinos signals the potential rebounding of the economy in the coming year. Latinos are replacing the baby boomers and over the next decade will become a major force in the growth of U.S. consumer spending.

What does all this mean in these times? Obama and Congress should create policies and laws that places more money into the hands of Latinos and other low-income workers who will stimulate the economy as opposed to extending tax cuts for the ...