Biden losing support of small business in US
Support for President Joe Biden among small business owners fell sharply in the fourth quarter, especially among independents, a survey released Tuesday showed.
Just 34 percent of small business owners say they approve of the way Joe Biden is handling his job as president, down from 40 percent in the previous quarter and 43 percent at the start of the year, according to the latest CNBC|Momentive Small Business Survey.
Small business owners tend to be Republicans learning, so its no surprise that Biden is more disapproved than approved. What makes the fourth-quarter polling results so startling is that virtually all of the decline in support for Biden came from independents.
Just nine percent of Republican small business owners say they approve of Biden, while 89 percent of Democrats do. Those figures are nearly unchanged from previous surveys.
Among independents, however, support for Biden fell from 51 percent to just 33 percent.
Fifty-nine percent of independents say Biden has been bad for small businesses and 60 percent say he has been bad for the economy.
Inflation is a top concern. Seventy-five percent of small business owners say they are experiencing higher supply costs, an increase from 70 percent in the third quarter. Fifty-eight percent say their business has been affected by supply chain disruptions, up from 55 percent.
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With the damage that Biden inflation is imposing on business owners, it is surp[rising that Democrats are still on board with Biden. He has been particularly inept in dealing with supply chain issues and controlling inflation. In fact, his policies will likely make the situation worse.
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