ALERT: Majority of Business Leaders Believe a Recession is Looming or Already Here
Economic optimism continues to plummet as Democrats threaten crippling tax hikes and more runaway spending
June 28, 2022 - Bidenflation - Blog - Press Releases
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 […]"
BACKGROUND:
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."
READ: STUDY: Top Job Creators Believe Recession is Unavoidable
READ: POLL: As Biden-Flation Accelerates, Majority of Americans Are Bracing for Even Higher Prices Ahead
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.
READ: Fact Check: Americans Need Solutions to Inflation, Not Higher Taxes
READ: No, Mr. President Your Policies Have Not “Helped" The Economy
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.
READ: One Pager: Steps to Fight Biden-flation
