Can America Survive Bidenomics?

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At The Economic Collapse, Michael Snyder suggests that Bidenomics is killing America’s small businesses. He writes:

One recent survey of small businesses found that nearly half of them believe that they will “definitely” or “probably” not survive another four years under Joe Biden…

In a new report from RedBalloon and PublicSquare, nearly half of the 80,000 small businesses surveyed said they “definitely” or “probably” will not survive another four years with Biden.

“There is nothing I can afford to do in addition to what I’m already doing. If things don’t change, I’ll be finished,” one business owner said in the report.

Already, businesses are making moves to preserve their cash flows. Four in 10 now said they are delaying paying bills while a whopping seven in 10 have put all staffing plans on hold, the survey found.

And a different survey discovered that a whopping 43 percent of all small business renters in the U.S. could not pay their rent in full last month…

A significant number of small businesses across the nation are struggling to pay rent due to skyrocketing costs, a recent study by business networking platform Alignable found.

The company’s latest Small Business Rent report, published on Friday, found that 43 percent of small business renters in the U.S. were unable to pay their rent in full and on time in the month of April. Such a high delinquency rate hasn’t been reported in the U.S. since March 2021, at the height of the COVID-19 pandemic, when it reached 49 percent.

More small businesses are going under with each passing day.

We really are in the midst of a “small business apocalypse”, and that is extremely bad news, because small businesses create most of the new jobs in this country.

Rising costs are one of the primary reasons why so many small businesses are now in hot water, and inflation is also crushing ordinary American families that are just trying to make it from month to month.

Read more here.