Well....It IS Saturday night. Most of the better restaurants around here still do a decent business on Fridays, Saturdays and then on Sunday afternoons. Not so much the other 4 days of the week.
We went to an upscale Italian restaurant last night. It was packed. Our server told us they've been busy since Christmas with people using up their gift cards.
And, so long as they still make credit cards, some people will contuinue to spend what they don't have....That phenomenon may be inspired by our government and their spending habits.