Another One Bites the Dust With Bidenomics: Family Dollar and Dollar Tree to Close 1,000 Stores

DOLLAR TREE
CREDIT: MICHAEL RIVERA

RED STATE

Following one of the oddest State of the Union addresses given by a sitting president — who spent nearly an hour yelling at his constituents — the sober realization is that Bidenomics may not be the gem that the White House likes to portray. I know it's a shocker that the current White House Press Secretary, Karine Jean-Pierre, might not be truthful about how the economy is doing under her boss.

As my colleague Bonchie pointed out earlier Wednesday, if Sleepy Joe and crew expected a bounce from the State of the Union yell fest, what they received was a thud. Panic Time for Democrats As Joe Biden Gets No Bump From Terrible State of the Union Speech

The disconnect between the press and average Americans was laid bare following Joe Biden's angry and divisive State of the Union speech in early March. 

As RedState reported, the president appeared to be hopped up on stimulants as he shouted his way through the first half-hour of his remarks. That he decided to focus on Ukraine and January 6th before any of the actual things most Americans are concerned about didn't help his performance either. 

When Biden finally got to the issue of illegal immigration, which consistently places near the top of priorities for voters in various polls, he mispronounced Laken Riley's name, calling the murdered Georgia college student "Lincoln." His comments on the economy were no better, with him attempting to garner credit for the deficit still being near record highs while ignoring the stubbornly high inflation and astronomical interest rates that continue to hamper American families. 

Case in point, the economy continues to hamper American families. This story highlights another national chain shuttering over a thousand stores popular with people looking for some relief during the Biden inflation cycle. 

Family Dollar, the struggling discount chain that caters to low-income customers predominantly in cities, will close about 1,000 stores as inflation takes a bite out of consumers’ wallets and low-cost-retailers’ profits.

Family Dollar will close 600 locations in the first half of 2024 and 370 stores over the next several years as store leases expire.

Dollar Tree, which owns Family Dollar, also said it will close 30 stores as leases expire.

This comes on the heels of a less-than-stellar inflation report for last month: Inflation Unexpectedly Higher in February Than Economists and White House Predicted 

READ THE FULL STORY