Spending on Father's Day reaches record high of $24 billion

Father's Day was inaugurated in the United States in the early 20th century to complement Mother's Day in celebrating fathers, fathering, and fatherhood. Father's Day was founded in Spokane, Washington, at the YMCA in 1910 by Sonora Smart Dodd, who was born in Arkansas.

Father's Day is this Sunday, June 15, and restaurants across the country are celebrating by offering deals and discounts on the day. According to the United States Census Bureau, there are an estimated 72 million fathers in the U.S., with 29 million of those fathers also being grandfathers.