Bankruptcy filings increased by 16% in the first quarter of this year, compared with a year ago, and the familiar Red Lobster chain is shuttering 87 of its restaurants. Far from helping our economy, the 10 million new illegal aliens allowed in by Biden are driving up food and housing costs, while they cannot afford to keep Red Lobster in business.
Nearly thirty years ago, researcher John Lott published his influential book entitled, “More Guns, Less Crime.” In it he demonstrated how gun availability would decrease the overall crime rate, and that is what has happened as law-abiding citizens are allowed to keep and bear arms in nearly every state.
“More immigration, more inflation” should be a sequel to that classic work. We have been victimized by the worst inflation of any president since Jimmy Carter, and one cause is that Biden has allowed the greatest influx of illegal aliens in American history.
Migrants drive up costs for necessities of food and housing, and the spike in demand caused by their relocation here increases prices. The “Law of Demand” is a fundamental principle that economics students learn in their first course: greater demand for something results in higher prices for it.
Already this year, the popular Family Dollar store has had to close 620 of its stores. Rue21 has closed 543 of its locations, while 99 Cents Only Stores have had to shut down 371 of its outlets.
Our economy is in a dire situation, and it is all thanks to President Biden’s radical open borders policies. If the tide of immigrants is not held back, we will soon be in a free fall. The border needs to be closed and sound immigration policy must be restored.
This post originally appeared at https://www.phyllisschlafly.com/national-sovereignty/immigration/biden-inflation-and-migration/
