As the economy worsens, multiple industries continue to shed jobs.
U.S.-based companies laid off 82,307 employees in January, a 136 percent increase from the previous month, according to a report by the business and coaching firm, Challenger, Gray & Christmas, Inc. The Wall Street Journal reported companies are still cutting white-collar jobs in an attempt “to do more with less.”
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President Joe Biden is blaming corporations for high prices and “shrinkflation.” Business executives and many economists disagree, arguing the real problem is inflation created by federal deficit spending policies.
Ahead of the Super Bowl, Biden posted a video on X saying, “While you were Super Bowl shopping, did you notice smaller-than-usual products where the price stays the same? Folks are calling it Shrinkflation and it means companies are giving you less for every dollar you spend. I’m calling on the big consumer brands to put a stop to it.”
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President Joe Biden was mocked by conservatives on Sunday for a video he released ahead of the Super Bowl which derided “shrinkflation,” when manufacturers lower the size or quantity of items included for a given price without informing the consumer as a result of inflation, with pundits uniformly reminding the embattled president that his inflationary policies preceded the shrinkflation.
In the video, posted to the official government account for Biden on X, the platform formerly known as Twitter, the president appears to be sitting in the White House movie theater while various shots reveal he is surrounded by packages of junk food. Looking into the camera, Biden remarked, “if you’re like me you like to be surrounded by a snack or two while watching the big game.”
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