As the economic downturn hits under the Christmas tree

For many families the holidays are a time of togetherness, good food and especially, presents. But in the middle of an economic downturn, it is harder than ever for many families to stack the hearth high with gifts for the kids. We talk with two parents who have been thinking a lot about downsizing their holidays. Marvin Powell lost his job with General Motors in October, and when he tried to explain a leaner Christmas to his son, the six-year-old suprised him with some youthful wisdom, saying “Daddy, [presents] are not even what its about. It’s about being thankful.” Ylonda Gault Caviness, longtime parenting journalist for the website iVillage, shares her tips on how to explain a scaled-back holiday to children.