If you listen to Biden or anyone else from his administration, the economy is booming. Even small businesses are seeing record profits.
The Biden administration must be looking at very different reports than the rest of the country. Small businesses are closing. People are struggling to put food on the table. And even big box stores around the country are closing.
There’s a reason why the country is in trouble. Sales are down, inflation is high, and interest rates are all over the board.
Fox Business had reported that retail sales jumped 7.6% during the holiday shopping season. And while this sounds like good news, it was anticipated that there would be an even higher jump.
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The result is that there are over 800 big box stores planning to shut their doors forever at some point in 2023.
Companies that will be downsizing include:
Bed Bath & Beyond
Party City
Gap
Macys
Big Lots
Tuesday Morning
Walmart
You know it’s bad when even Walmart is having to close its doors.
CNBC explained, “For retailers, the shopping season’s results reflect the challenges ahead. 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.”
If you’ve been paying attention over the past few years, this isn’t a new trend. Quite a few large stores have been closing around the country for a while now. You may notice that there are fewer Krogers, Best Buys, and CVS drug stores.
And quite a few companies are simply no longer, including Sears.
Meanwhile, Biden continues to live a lie. During his state of the union, he said, “We have more to do, but here at home, inflation is coming down…food inflation is coming down…”
Really, Joe? We’d love to believe you, but even the big box stores can’t put their faith in your empty words as they shutter their doors forever.
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