Bidenomics Is So Awesome That Red Lobster Declared Bankruptcy and Walmart Is Cutting Jobs

Ed Morrissey

Spiraling labor costs and "onerous" leases account for a large part of Red Lobster's woes, but reporting today makes the acute issue more connected to Bidenomics. Thanks to inflation, traffic had fallen off and the chain began an all-you-can-eat shrimp deal to lure diners back. Unfortunately, that program lost millions of dollars as people ate a lot more shrimp than anticipated. That's more of a final straw than a root cause; the root cause is demand falling off due to the erosion of buying power for American families.