Coffee shop owner blames Biden for skyrocketing costs hurting business: 'He should resign' [FOX News]
Bank of America Corporation (BAC)
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Source: FOX News
Small business owners are increasingly relying on credit cards to keep their businesses afloat, and some business owners are blaming the Biden administration for the rise in costs. Maher Youssef, owner of Pluto Organic Cafe, told Fox News that his Seattle coffee shop has relied on credit cards to pay for costs as inflation has surged. He believes the Biden administration needs to refocus its attention to helping small businesses who are struggling in this country. "I think Biden should focus on that. If he can't do it, he should resign," Youssef told "FOX & Friends Weekend" co-host Will Cain. Findings published May 1 by Bank of America show that small businesses are reacting to inflationary pressures within the economy by racking up credit card debt to finance their operations. Since 2019, small business credit card balances are up 18%, according to aggregated and anonymized data. While inflation has fallen considerably from a peak of 9.1%, progress has largely flatlined sinc
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