Elections have consequences. Within three days of Obama’s reelection, tens of thousands of Americans have been laid off.
ING laid off 350 within minutes of Romney’s concession. Obama had ordered Defense contractors to hide upcoming layoffs, so people would remain ignorant and vote for him. Now Boeing cut 30% of its managerial force, is closing California facilities and consolidating other businesses. Hawker Beechcraft will close facilities in 3 states, cutting 400 jobs and another 170 elsewhere. Umatilla Chemical Depot, a defense sub-contractor, will lay off about 450 workers. Caterpillar and Alcatel Lucent also announced more layoffs.
Obamacare’s $525 Billion is the largest tax increase in history. It imposes 20+ new taxes. 75% of these taxes will affect small people that Obama professes to love: Americans making <$120,000 a year. The lowest tax rate will rise from 10% to 15%.
Everybody must have medical insurance or pay a penalty up to $2085. Obama forced medical insurers to hide, until after the election, that your medical insurance premiums will rise steeply. If your insurance is excellent, it will be penalized further.
Obamacare fines businesses $2000 per full time employee for failing to have medical insurance. Dana Holding, an auto parts manufacturer with 24,500 workers, is laying off hundreds. Other businesses, White Castle, Papa John, the Red Lobster, Olive Garden and Longhorn Steakhouse restaurant chains, Kroger retailing chain and Jancoa Janitorial services; are converting full time to part time workers. 8.3 million are already working part time though they’d prefer full time work. It will become impossible to find a full time job.
Obamacare taxes include $20 Billion surtaxes on Medical Device manufacturers. They are laying off or moving jobs to China. Boston Scientific is cutting 1,200-1,400 jobs and shifting them to China. Medtronic cut 500 and will cut 600 more. Welch Allyn will lay off 10% of their workforce. Stryker is closing its NY plant and eliminating 1,170 positions worldwide. Others with 200 to 800 layoffs each include: St. Jude Medical, Abbot Labs, Covidien, Kinetic Concepts, Smith and Nephew and Hill Rom. Zoll Medical, maker of defibrillators employs 1,800 and is considering major lay offs, Cook Medical cancelled plans to open 5 new plants.
Obama’s EPA has made it impossible to continue in the coal industry. Consol Energy is laying off employees at 6 coal mines. A total of 175 power plants have been closed. More will close shortly.
Obama’s Dodd-Frank regulations have caused Bank stocks to sink. The Dow Jones Average was down in the three days since election. Wall Street plans 10,000 layoffs by December because of the coming recession.
Elections do have consequences.
November 11, 2012