Presidential action prompts spike in guns sales

BELLEVUE, Wash. -- Gun owners fired up over sweeping new proposals are snatching up weapons and ammunition in record numbers.

Business at Wade's Gun Shop in Bellevue was brisk on Wednesday, likely triggered by President Obama's call for more stringent restrictions on gun owners.

Kyle Schreiner said he's dropped $20,000 on guns and ammo since the massacre at Sandy Hook Elementary School. He even bought a pink assault rifle for his wife, just in case Obama's call for a ban on such guns and high capacity clips becomes a reality.

"He's initiating his executive order, so I'm initiating my own executive order and buying rifles and magazines before they can no longer be purchased," Schreiner said.

The run on guns at Wade's began after Obama's reelection, and sales surged again following the Sandy Hook shootings.

Bill Vassos agrees with background checks on private gun sales and says it shouldn't be easier to buy a gun than to adopt a cat.

"I'm a pretty strong Second Amendment supporter, but there are some things we can do," he said.

Vassos said military-style assault rifles should be weapons for warfare, not sport.

"No I won't own one," he said. "I don't need one. What do we need an assault rifle for?"

But when it comes to limiting ammunition magazines to 10 rounds, Vassos says why bother.

"Ten , 30, 40 rounds are not going to make a difference if somebody's bent on using a gun," he said.

There's also a rush because demand is driving up prices. The cost of an assault rifle has doubled, and some magazine prices have tripled in the past three weeks.