Business owners fear they won’t survive another Biden term: ‘We’re all struggling’
foxbusiness.comKatlyn Swaffer and Maher Youssef explain how their small businesses have been impacted by inflation and call on President Biden to address the issue.
Small business owners nationwide are sounding the alarm over another four years of Bidenomics as inflation chips away at their bottom lines.
«Biden should do something about it, and he should never continue because he only [cares] about himself and his family,» Pluto Organic Cafe owner Maher Youssef said on «Fox & Friends» Thursday.
«We're all struggl[ing]. Everybody is struggl[ing]. I don't know how we are going to continue like that.»
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According to RedBalloon and PublicSq.'s May Freedom Economy Index, 49% of surveyed business owners say they will «definitely» or «probably» not survive if Biden is re-elected in November.
Katlyn Swaffer and Maher Youssef explain how inflation under President Biden has hurt their small businesses. (FOX Business/Fox News)
One factor in the rising pessimism from business owners is skyrocketing prices for consumers and small businesses alike.
Since President Biden took office in 2021, prices are up nearly 20%. Just last month, the consumer price index showed the cost of everyday goods was still on the rise, up 3.4% from March.
What's more, grocery prices have risen 21% in the last three years, according to the U.S. Bureau of Labor Statistics.
«So in 2020, when we first opened, we would pay around $15 a case for eggs, which is 15 dozen. Now it's upwards of $50, and sometimes it's $100 for a case of eggs,» Just Baked Bakery and Deli co-owner Katlyn Swaffer also told «Fox & Friends» co-host Steve Doocy.
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