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November 27, 2013 AT 8:37 AM
Today, the day before Thanksgiving, is the single busiest travel day of the year, according to AAA's annual travel outlook. But, as if right on cue, mother nature has unleashed a massive and deadly storm that is threatening travel this holiday. More than 300 flights have been cancelled and nearly 1,000 have been delayed already today, according to Flightstats.com. That follows 284 cancellations yesterday and more than 6,500 delays. So what does this deadly storm mean for the economy? Median spending is expected to be down roughly 7% to $465, AAA reports, as more than two-thirds of people plan to spend time with family and friends.