With former Obama-Biden Director of the National Economic Council Larry Summers warning that a recession is “almost inevitable,” more than 60 percent of chief executive officers (CEOs) expect the U.S. to be in a recession in the next 12 to 18 months, according to a recent survey.
This comes after another poll found that more than half of Americans believe the U.S. is already in a recession.
The survey included responses from 750 top job creators, which found:
- Fears of a recession are widespread: “More than 60 percent of CEOs expect a recession in their geographic region in the next 12 to 18 months […]. An additional 15 percent think the region of the world where their company operates is already in a recession.”
- Rising energy costs pose a real threat: “Higher energy prices are a particular concern, some executives say, with rising transportation costs making it more expensive to produce goods.”
- Lower taxes would help businesses thrive the most: “When asked which government policy actions would most help their business to thrive, CEOs say they can best benefit from lower taxes, public investment, fewer regulations […]”
CLICK HERE to view the survey.
American Families and Main Street Businesses Are Bracing for More Economic Pain.
- More than 60 percent of Main Street job creators fear Biden-Flation will close down their business.
- Since President Biden took office, workers’ wages have dropped nearly four percent. Now three in four Americans are cutting back on common household expenditures, including dining out and entertainment.
- A majority of Americans report feeling “uneasy about the state of the country,” say things in America are “going badly,” and feel that the economy is “bad.”
Democrats Have Pushed the Economy to the Brink of Recession – and Are Promising to Make Matters Worse.
- President Biden and congressional Democrats’ $2 trillion so-called COVID stimulus fueled this inflation fire, with former Obama-Biden White House economic advisor Jason Furman attributing at least 2.5 percent of current inflationary pressure to the massive bill.
- President Biden’s tax plan would slash family wages across all income levels, while more than 60 percent of Americans’ paychecks are unable to keep up with rising prices.
- Even economists who have been cited as favorable toward President Biden’s policies have criticized his agenda and warned about worsening inflation.
Republicans Are Fighting to Get the Economy Back on Track.
- Instead of doubling down on the same failed economic policies that have fueled 40-year high inflation and pushing gimmicks like a “gas tax holiday,” Democrats should work with Republicans to get the economy back on track.
- Republicans have outlined steps to reduce the current skyrocketing inflation, including: cutting wasteful spending and red tape, lowering taxes, boosting investment, and unleashing American energy.