During his SOTU, Obama proudly announced that the U.S. “has the strongest, most durable economy in the world.”
Unfortunately for the president, as nice as his words sound, they are not reality.
Our economy is still sluggish thanks to Democratic policies that don’t allow businesses to flourish. And as Obama kicks off his eighth year as president, Americas largest retailer has announced that it is closing hundreds of stores and laying off thousands of workers.
The retail giant is set to shut down some 269 stores, 154 of which are located in the U.S., though that number is but a fraction of their more than 11,000 stores worldwide.
Nearly all of the stores to be closed in the U.S. were within 10 miles of another Walmart location, and the retailer has claimed that it will do its best to relocate employees to nearby stores.
The announcement followed close on the heels of a statement from Macy’s that it would also be closing a number of locations.
Walmart employs more than 2.2 million people worldwide, more than half of them in its 4,500-plus U.S. locations.
Most of the stores set to be closed are of the Walmart Express variety, a largely failed venture into the convenience retail market that never really caught on.
Walmart’s CEO said in a statement, “Actively managing our portfolio of assets is essential to maintaining a healthy business. Closing stores is never an easy decision. But it is necessary to keep the company strong and positioned for the future.”
Despite what Obama may say about our economy, the truth is chilling.
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