Originally Posted by penchief
From what I'm hearing the business leaders themselves say, is that they are laying off because it is the prudent thing to do in the face of the "fiscal cliff." In fact, many say they are prepared to hire but are holding off until that uncertainty is resolved.
Wall Street is also signaling that stocks will be stagnant or down until an agreement is reached.
I'd hope that all those "fiscally responsible" republicans would finally end their obstructionism and do what is right for their country.
That said, you seem to be attributing these layoffs directly to the election of Obama when that is not really true. Just listen to what the business leaders themselves are saying.
It's not just the fiscal cliff. It's also the business uncertainty and Obamacare plays into that plus Obama's by pass of congress by using an EO for new EPA regulations on coal etc. Some are cutting to get under the employee size requirements on Obamcare. I always said, more bad times were coming no matter who won but Obamacare not being repealed and an anti-business president who rules by decree to get around congress will make things worse. Prepare for things to cost more and more taxes to burden individuals and businesses. I also predicted Europe would wash up on our shores about a year ago too. What the Fed has been doing would also contribute but not just to Obama but Mitt.