Almost 40% of small businesses couldn’t pay rent in October, as Bidenflation endangers half the U.S. workforce

Joe Biden loves to claim that job growth during his first two years in office has set a record.

It’s true, tens of millions of Americans have gone back to work during his term. But what’s also true is that the vast majority of the jobs were simply being refilled after they were ‘lost’ due to the COVID-19 pandemic. So overall, job ‘growth’ during Biden’s term hasn’t been great, and that’s due in large part to his and his Democratic Party’s economy-busting tax and spend policies, all of which have led to massive, historic inflation.

In fact, inflation has gotten so bad that roughly half the nation’s workforce is in jeopardy of becoming unemployed after nearly 40 percent of small businesses were unable to pay their rent in October.

“The findings, published Tuesday by Boston-based business tracker Alignable, are raising more than eyebrows, as they illustrate the stark effect inflation is having on everyday Americans,” the UK’s Dailymail.com reported this week.

“The survey of 4,789 randomly selected small business owners saw more than half of respondents say their rent is at least 10 percent higher than six months ago,” the report continued. “If you go back seven months, the majority said their rents had increased by at least 20 percent.”

Rents have skyrocketed along with the price of everything else, and nothing the Biden regime has tried so far is working to bring inflation down. In fact, the ‘fix’ is being implemented by the Federal Reserve: In order to bring down inflation, the Fed has to cool spending and to do that, it must impose crippling interest rate increases that raise the cost of financing big ticket items like homes, automobiles and appliances, among other things. And as these industries cool down, jobs will start to disappear again.

The Dailymail.com report noted further:

Offering an explanation for the phenomenon, study author Chuck Casto wrote that small business owners are steadfast, but that their incomes are ‘basically being eaten away by inflationary pressures’ as grim figures continue to rock financial markets. 

Alignable discerned that one-third of businesses are at risk of closing if revenue does not ‘ramp up’ significantly in the coming months, as consumers shy away from spending amid fears of an impending recession.

Without question, the top concerns for voters this election cycle are the economy, inflation, gasoline and energy prices. Rent increases are also high on the list with other economic issues. But the Biden regime and Democrats have focused on ‘abortion’ and ‘a woman’s right to choose’ instead.

Recent surveys show that by far, a majority of Americans blame Biden and his party for the current inflationary cycle.

“The CBS/YouGov Battleground Tracker poll surveyed 2068 registered voters between October 12th and 14th, asking a number of questions about the upcoming elections, the overall state of the economy, and whether or not they were satisfied with the direction the country was heading,” The Daily Wire reported in mid-October, citing the outlet’s survey data.

“The worst news for Democrats came from the questions about the economy, as 65% of those polled said that they felt like the United States economy was getting worse compared to only 15% who believed it was getting better. Another 20% said that the economy was staying the same,” the outlet added.

GOP operative Nathan Brand tweeted out some of the survey’s results: “NEW CBS Poll: Voters hold Biden responsible for the state of the economy. 71% say he bears a lot or some responsibility for an economy that 65% of voters say is getting worse.”

NEW CBS Poll: Voters hold Biden responsible for the state of the economy. 71% say he bears a lot or some responsibility for an economy that 65% of voters say is getting worse. https://t.co/Aeym2Q8vI8 pic.twitter.com/3oK0dBOohD

— Nathan Brand (@NathanBrandWA) October 16, 2022

Sources include:

DailyWire.com

DailyMail.co.uk