Biden White House In Panic-Mode Over The Economy

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  • Small business confidence is back near an all-time low, according to the CNBC|Momentive Small Business Survey for Q4 2021.
  • The small business demographic skews conservative and Republican respondent views of a Democratic president and economy are expected to be low, but independents are the primary reason for the decline, with support for President Biden slipping among these key swing voters.
  • Concerns about inflation and the supply chain continue to rise among America’s small businesses, with strong economic data including consumer demand and GDP being outweighed by prices.
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The politics of small business owners is similar to the politics of the majority of Americans in one major way: it’s become hyper-partisan. But as President Joe Biden’s approval rating among entrepreneurs slips to an all-time low and Main Street confidence reverses to near its all-time low set in the first quarter of 2021 when Biden’s presidency began, it’s not only Republicans who are downbeat about the president’s handling of the economy.

The latest CNBC|Momentive Small Business Survey shows a decline in small business confidence and Biden’s approval rating, with respondents who identify as independents primarily responsible for the downshifting, and concerns about inflation a major influence over the data.

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Concerns about the labor shortage remain high, but even more small business owners are seeing higher prices and supply chain disruptions, according to the survey: 75% of small business owners say they are experiencing higher supply costs, up from 70% in the third quarter; 58% are experiencing supply chain disruptions, up from 55%.

www.cnbc.com/2021/12/07/latest-sign-of-president-bidens-inflation-problem-is-on-main-street.html

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