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Politics : President Joe Biden

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From: Thomas M.5/20/2024 12:17:52 PM
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Half of America’s Small Businesses Say They Won’t Survive A Second Biden Term

Small businesses across the United States are expressing growing concern that they won’t be able to stay alive financially if Joe Biden wins a second term in the White House. The new Freedom Economic Index survey shows 48% of small business respondents fear they will not be able to stay afloat under another four years of Biden government policies and tax increases.

Nearly a quarter of respondents said they definitely won’t be able to keep their doors open should Biden win re-election. Meanwhile, 26% said their business’s financial viability would be unlikely. Stagflation, energy costs, and the continued rise in consumer prices were all major concerns the small business owners said impacted their long-term outlook.

Most major economic indicators continue to show inflation on the rise. Despite a slight month-to-month dip in April, the Consumer Price Index (CPI) increased at a rate of 3.4% annualized. April’s Producer Price Index (PPI) — an essential measure in the eyes of the Federal Reserve — was even more concerning than the CPI data. The PPI numbers showed a re-acceleration in prices, with inflation stubbornly remaining above the Federal Reserve’s 2% target.

thenationalpulse.com

Tom
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