Blaine's Bulletin - Bidenomics Closing the Doors on Small Businesses

Whether you're at the Lake, in Hermann, or out in my neck of the woods in St. Elizabeth, I'm sure you can name your favorite local Mom and Pop shop - a family diner, a boutique or a local grocery. Small businesses sustain Main Street America by giving back to their community-they provide jobs and food to our local communities and are a way of life for many who own one. Growing up in St. Elizabeth, I have always had a deep appreciation for the services that small businesses bring to the Third District. You can find groceries, a cup of coffee, and even a fun souvenir when you have visitors in town thanks to the hard workers of the Third District who own and operate our small businesses.

The harsh reality of Biden's America has become this: For the last four years, small businesses and the residents of the Third District have been in the grip of Bidenomics. Bidenomics-a term coined by no one other than Joe himself-is an acclaimed way of running or neglecting to runthe economy which has since then caused inflation to skyrocket. Since 2020, Bidenomics has put more constraints than ever on our small businesses, and with the rising cost of inflation, it has stripped the value of the dollar from millions of Americans' pockets and paychecks. I'm confident we have all felt the ripple effect of this at some time or another. Under Bidenomics, inflation has surged to record highs, reaching over 9% in June 2022, the highest in four decades. The price of everyday goods and services, from groceries to gasoline, has skyrocketed, squeezing small business owners who are already operating on thin margins. With that nearly 40% of small business owners reported that they had to raise prices due to increased costs, and over 20% stated they are considering closing their doors permanently if conditions do not improve. For many, small businesses are more than a local mom and pop shop down the road - it's a family business, it's the local grocery and it's their means to an end. When inflation forces them out, many are left with no options, and no income.

Looking to the future, as Vice President Kamala Harris has hit the road to prepare for November's election, she has coined the term "Kamalanomics" in hopes that it will draw crowds in masses, but the only thing that I fear Kamalanomics will draw is more funds out of small businesses' pockets. The American economy cannot afford four more years of skyrocketing gas prices when they are already up 48.7% , we can't afford food prices even higher than 21.3%, and we can't afford higher unemployment rates.

Four more years of poorly constructed economic policy will lead to decades of irreparable economic damage. It's clear we need to prioritize the needs of our small businesses and take time to understand the importance of lowering inflation and making the American dollar go further in every consumer's pocket. Protecting local businesses is protecting the backbone of our economy. It's time to put Main Street America first and restore the financial security that our hardworking families deserve, the communities depend on, and our future demands.

CONTACT US: I encourage you to visit my official website or call my offices in Jefferson City (573-635-7232) or Cottleville (636-327-7055) with your questions and concerns. If you want even greater access to what I am working on, please visit my YouTube site, Facebook page, and keep up-to-date with Twitter and Instagram.

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