Restaurant Owners Caught in the Crosshairs of Biden-Harris Administration’s Inflation Crisis

Restaurant Owners Caught in the Crosshairs of Biden-Harris Administration’s Inflation Crisis

Joe Biden and Kamala Harris’ skyrocketing inflation is leaving American small business owners and the hard working Americans who experience rising costs behind as they continue fighting to bounce back from the pandemic.

July 20, 2021
Restaurant Owners Caught in the Crosshairs of Biden-Harris Administration’s Inflation Crisis

The Biden-Harris administration may be claiming record-breaking inflation will be temporary, despite economists predicting rising inflation will last years not months, but that doesn’t change the fact that Americans are experiencing rising costs now, according to a new story from The Washington Post.

One restaurant owner in Dallas, Texas had to increase his menu prices twice since March because of skyrocketing food costs.

The Washington Post: “‘It’d be foolish for me to believe we’ve seen the worst of it,’ he said. ‘I don’t want to let my mind think about this becoming a long-term deal.’”

Despite last month’s 2008 inflation levels, Joe Biden told reporters on Monday that “no serious economist” is suggesting unchecked inflation is on the way. But several experts, including Biden’s own Treasury Secretary, have warned of rapid inflation lingering for several more months — maybe even years.

CNBC: “Treasury Secretary Janet Yellen cautioned Thursday that prices could continue to rise for several more months, though she expects the recent startling inflation run to ease over time.”

The Wall Street Journal: “Americans should brace themselves for several years of higher inflation than they’ve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a while.”

The Washington Post: “But critics such as former treasury secretary Larry Summers warn of an inflationary spiral resembling the decade-long rise that began in the late 1960s.”

Meanwhile, Americans like restaurant owner Mark Maguire are dealing with the negative impacts of inflation and a shortage of workers because of the Democrats’ efforts to flood the economy with stimulus money.

The Washington Post: “He has increased his average hourly wage about 30 percent since March, after a group of workers ‘came to me and said nobody wants to do this job and we need more money,” he said. ‘We were afraid we were going to start losing people to other restaurants.’”

Bottom line: Joe Biden and Kamala Harris’ skyrocketing inflation is leaving American small business owners and the hard working Americans who experience rising costs behind as they continue fighting to bounce back from the pandemic.