What does economic growth truly look like? Is it about the creation of new jobs, businesses expanding, and the growth of the middle class?
For the Democratic Party, the notion of economic growth appears to be intertwined with the troubling trend of mass retail store closures across the country.
According to a report from the U.K. Daily Mail on Friday, nearly 5,500 stores shuttered throughout 2023, marking a staggering 30 percent increase from the previous year and reaching the highest levels seen since the pandemic.
Among the retailers hit hardest by closures were Bed Bath & Beyond and Walgreens, with 866 and 505 closures respectively, as per the Daily Mail.
Other major players like Rite Aid, CVS, and 7-Eleven also faced significant closures, largely attributing them to similar causes. One prominent reason for these mass closures was bankruptcy, a fate declared by Bed Bath & Beyond, Rite Aid, and Tuesday Morning during the course of 2023.
These longstanding retail fixtures struggled to weather the storm of just three years of what many deem as disastrous policies from the Biden administration.
Another noteworthy factor—crime—remains a critical yet often overlooked issue in mainstream media coverage.
Retail giants like Walgreens have pointed to escalating theft rates as a leading cause for their closures, citing how crime has substantially impacted store profitability. The prevalence of criminal activities has transformed certain areas within liberal cities into virtual ghost towns, prompting retailers to vacate premises without looking back.
Yet, despite the grim reality on the ground, President Joe Biden declared in February, “The Biden economic plan is working. It’s working.”
However, the policies implemented by his administration and party have directly contributed to these closures.
Whether it’s Democratic district attorneys refraining from prosecuting thieves in liberal urban centers or the crippling inflation rates that have made profitability nearly impossible without significant price hikes, Biden’s agenda has yielded abysmal outcomes.
The fact that closures in 2023 surpassed those in 2021, a year still grappling with the pandemic’s impact, is undeniably damning. Much of the Biden administration’s touted successes are relative to pandemic circumstances or other periods of his tenure that were even more challenging.
The narrative that “Inflation has fallen six months straight” as a positive, when it was initially fueled by Biden’s policies, rings hollow and disconnected from reality.
Predictably, following Biden’s optimistic statement, inflation surged once more, undercutting his assertions.
Biden’s tenure has actively undermined the American economy, with citizens bearing the brunt of his administration’s shortcomings.
The looming question remains: How many more businesses will close their doors and declare bankruptcy if Biden remains in office for another four years?
The longer Biden occupies the Oval Office, the more the economy falters—it’s as straightforward as that.
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