(TheRedAlertNews.com) – Happening Now: As the bad news keeps piling up for President Joe Biden and his administration, small business confidence just sunk to a new all-time low as most small business owners believe the United States is already in a recession, and they disapprove of Biden’s job performance.
As CNBC lays it out in, “Small business confidence hits all-time low with Main Street convinced recession is already here and sales will suffer“:
“Small business confidence has hit an all-time low as the majority of Main Street expects runaway inflation and a Federal Reserve that is incapable of engineering a soft landing for the economy.
“In fact, the majority of small business owners (57%) taking part in the CNBC/SurveyMonkey Small Business Survey for Q3 2022 think the recession has already begun, while another 14% predict recession before the end of the year.” [emphasis added]
And the news gets even worse:
“More than three-quarters (77%) of small business owners polled expect prices to continue going up. And while many large corporations continue to pass along price increases to customers and report healthy profits, only 13% of small businesses said now is a good time to raise prices…
“President Biden’s approval rating on Main Street hit the lowest level of his administration, with 31% of small business owners approving of how he has handled the job of president.” [emphasis added]
What is your opinion? Do you agree with the small business owners who say the country is already in a recession and they disapprove of the job President Joe Biden is doing as president? Why or why not? Please share your thoughts by emailing [email protected]. Thank you.