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Small Biz Stuck in Cruel Biden Economy as They Brace for Recession

October 11, 2022

Struggling under inflation, a worker shortage, and a Biden recession, America’s small business owners are still deeply worried at historic levels. September’s new survey by the National Federation of Independent Businesses (NFIB) shows “small business optimism” remained below historic averages for the ninth month in a row


While President Biden dismisses the damage he’s done to Main Street and American families, shrinking optimism reveals America’s communities are still hurting and expect even more pain ahead, with the prospect of higher costs and more layoffs.


READ: President Biden’s Cruel Economy is No Joke


Key Findings:


  • Biden-Flation Remains Biggest Problem: Thirty percent of business owners reported inflation as the single biggest challenge in operating their business.


  • Biden Policies Left Main Street Desperate for Workers: Forty-six percent of small business owners still have job openings they’re unable to fill – remaining near historic highs.


  • Supply Chain Crisis Impacts Nearly Every Small Biz: Nearly 90 percent of business owners reported supply chain disruptions had some impact on their business in September. Thirty-two percent reported a significant impact.


CLICK HERE to read the survey.


Key Background:


Families Are Falling Behind With Accelerating Biden-Flation 

  • More than half of American workers’ paychecks have fallen behind.
  • Biden-Flation has shrunk workers’ paychecks by nearly nine percent – the steepest pay cut in 25 years, according to analysis from the Dallas Federal Reserve. 
  • With a majority of workers stressed about their finances amid rising prices, more than 20 percent report they’ve tapped into emergency savings to pay their bills, while another 20 percent report working extra hours.


READ: Report: Biden-Flation Delivers Steepest Pay Cut in 25 Years


President Biden’s tax hikes will worsen inflation and hurt employment for small businesses. 

  • Small businesses facing 40-year inflation as the economy enters a recession are terrified of tax hikes in President Biden’s “Inflation and Recession Act,” which will worsen inflation, hurt employment, and hike taxes on American families and small businesses.

READ: POLL: Top Job Creators Say Biden-Flation Hasn’t Peaked Yet


Republicans’ Commitment to America Means a Stronger Economy

  • From making the historic GOP tax cuts permanent, to rolling back burdensome federal regulations, Republicans are committed to creating a stronger economy for American workers.


WATCH: Brady: Locking in Lower Taxes is Exactly What America Needs Right Now