We don't know when Halloween went from a candy-fest into a major production, but here in New York, it feels like a scary (or slutty) costume can cost as much as a Bar Mitzvah. And so, we've come up with a coping strategy: Every Halloween, we dress up as a designer, complete with one of their dresses. That way, if we have to spend money on a Halloween costume, at least it can eventually get absorbed into our wardrobes. Last year, we dressed as Lilly Pulitzer. The year before, we were the Studio 54 version of DVF. This year, we might try being Rachel Zoe because we have a crush on an otherwise-too-lush sparkle dress from Phillip Lim. Is it okay to buy an expensive Halloween costume if it's also part of your closet? Or is this just another excuse to spend too much, too soon? PS: Thanks to the bizarre minds at Newsgroper for the Obama shot.