https://sputnikglobe.com/20250107/bidenomics-still-bites-us-corporate-bankruptcies-hit-record-high-1121372680.html
Bidenomics Still Bites: US Corporate Bankruptcies Hit Record High
Bidenomics Still Bites: US Corporate Bankruptcies Hit Record High
Sputnik International
The bankruptcies took place amid elevated interest rates and weakened consumer demand across the US.
2025-01-07T08:37+0000
2025-01-07T08:37+0000
2025-01-07T08:37+0000
economy
us
joe biden
bankruptcies
world bank
international monetary fund
global economy
consumers
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At least 686 US companies filed for bankruptcy in 2024, the highest level since the 2010 global financial crisis, data from S&P Global Market Intelligence has shown.Major US bankruptcies that pertained to Party City, once the largest supplier of balloons and other fun-time supplies in the US, as well as food storage manufacturer Tupperware, restaurant chain Red Lobster, budget carrier Spirit Airlines, and cosmetic retailer Avon Products.Bidenomics Fallout The developments come after a Sputnik analysis based on data from the World Bank and the International Monetary Fund indicated that the US share of the global economy had plummeted below 15% during Joe Biden’s presidency.In the same vein, a University of Michigan monthly survey of attitudes toward the economy found that 20% of consumers expressed that their personal finances had deteriorated between Biden’s inauguration in January 2021 and September 2024.House Speaker Mike Johnson, for his part, insisted that Bidenomics had ruined the national economy and that US families "cannot afford to live in President Biden’s America."
https://sputnikglobe.com/20240601/the-bidenomics-will-continue-until-morale-improves-1118728491.html
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Sputnik International
feedback@sputniknews.com
+74956456601
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Oleg Burunov
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major us bankruptcies, global economy, the us share of the global economy, interest rates, consumer demand
major us bankruptcies, global economy, the us share of the global economy, interest rates, consumer demand
Bidenomics Still Bites: US Corporate Bankruptcies Hit Record High
The bankruptcies took place amid elevated interest rates and weakened consumer demand across the US.
At least 686 US companies filed for bankruptcy in 2024, the highest level since the 2010 global financial crisis, data from S&P Global Market Intelligence has shown.
Major US bankruptcies that pertained to Party City, once the largest supplier of balloons and other fun-time supplies in the US, as well as food storage manufacturer Tupperware, restaurant chain Red Lobster, budget carrier Spirit Airlines, and cosmetic retailer Avon Products.
The developments come after a Sputnik analysis based on data from the World Bank and the International Monetary Fund indicated that the US share of the global economy had plummeted below 15% during Joe Biden’s presidency.
A Gallup poll in September showed that 48% of adults in the US rated their country’s economic conditions as "poor," the highest rating achieved in a year.
In the same vein, a University of Michigan monthly survey of attitudes toward the economy found that 20% of consumers expressed that their personal finances had deteriorated between Biden’s inauguration in January 2021 and September 2024.
This was preceded by the Trump campaign slamming Bidenomics as an "unmitigated disaster" that resulted in high inflation with American families earning less and paying more for basic household essentials, including gas, food, and rent.
House Speaker Mike Johnson, for his part, insisted that Bidenomics had ruined the national economy and that US families "cannot afford to live in President Biden’s America."
