To hear President Joe Biden and his regime tell the story America’s economy has never been stronger than under his watch.
However the facts tell a much different story.
And now the Biden Economy is about to put tens of thousands of Americans out of work.
“It’s the economy, stupid”
American families are suffering under the Biden economy – quite possibly the worst economy since former President Jimmy Carter’s administration.
In fact, under President Joe Biden’s watch, the American economy has dropped to lows it hasn’t seen in a generation.
During his first term in the Oval Office, Biden’s economic policies have resulted in a recession, years of runaway inflation, record-high gas and energy prices, unaffordable home prices, surging car prices, and so much more – just an endless list of pocketbook pain.
And now, as most economists agree, the United States is on the brink of a second recession inside of a single term of the Joe Biden Presidency, as at least 800 big box stores are set to close their doors soon.
The news comes on the heels of a 2022 holiday season that didn’t come close to meeting industry expectations.
Christmas sales were actually up about 7% from prior years, but sales were so low during 2020 and 2021 due to COVID concerns, retailers were expecting a big boom that simply never came to fruition last year.
It’s closing time under Biden
And because of that, many big name brick and mortar stores are laying off staff and closing their doors for good.
“For retailers, the shopping season’s results reflect the challenges ahead,” CNBC’s Melissa Repko wrote. “As Americans continue to pay higher prices for groceries, housing and more month after month, they are racking up credit card balances, spending down savings and having fewer dollars for discretionary spending. Plus, retailers are following years of extraordinary spending. During the Covid pandemic, Americans fought boredom and used stimulus checks by buying loungewear, throw pillows, kitchen supplies, home theater systems and more.”
The Daily Mail has reported that more than 800 big box stores have announced closures across the country.
Bed Bath and Beyond is leading the way, shutting down 416 stores from coast to coast – roughly a third of all its locations
Additionally, Bed Bath and Beyond is closing all 65 of its locations in Canada.
If you’re looking for house goods, you may have to look elsewhere other than Tuesday Morning, as the chain will be closing 265 of their locations nationwide.
In fact, they’ve been hit so hard, they’re currently struggling through bankruptcy proceedings.
Likewise, Party City is going through bankruptcy and will be closing at least a dozen stores.
The Gap won’t be selling clothes any more in 74 locations.
Walmart, Big Lots, Macy’s, JCPenney, and even AmazonFresh are all planning to close stores in various parts of the country.
This comes on the heels of CVS, Rite-Aid, Kroger, Nordstrom, and Best Buy all systematically cutting back on locations over the past few years.
Under President Biden, the cost of almost everything is going up, while there are fewer and fewer places to work.
US Political Daily will keep you up-to-date on any developments to this ongoing story.