Not even two weeks after the re-election of the Man Who Would Be King, and America is already feeling the pain in job losses.
According to the Labor Department, jobless claims in the first week after the election surged by 78,000. The number is being blamed on Hurricane Sandy and probably does have more to do with that natural disaster hitting the East Coast than it does the natural disaster that is returning to the Oval Office.
Still, the upcoming numbers don’t look to be good for Obama et al.
Since the election, the stock markets have been on a steady plunge. At this writing, the Dow has dropped more than 770 points since Election Day.
Every day since the election, the news has been full of companies announcing layoffs because of Obamacare or increasing regulations, which are reportedly flooding out of the Administration at the rate of more than 80 new business regulations per day. Some of the recent companies announcing massive layoffs include NBCUniversal — 500; Xerox Corp. — 2,500; Citigroup Inc. — 100 in Long Island, N.Y.; Smithfield Foods Inc. — more than 400 in Virginia; Solel Solar Systems — 140; Hostess Foods — 627; Wingspan Portfolio Advisores — 459; Wake Forest Baptist Medical, North Carolina — 950; Turkey Point Nuclear Plant, Florida — 277; and Atlantic City casinos.
Stryker Corp., a major Obama donor whose owner contributed more than $2 million to the president’s super PAC, is closing its Orchard Park, New York, facility, losing 96 jobs in December, in time for Christmas. Stryker will also eliminate 5 percent of its global work force, about 1,170 positions.
Businesses aren’t the only victims of increasing costs caused by Obama policies, as municipalities such as Tooele County, Utah; Hamilton, Ohio; and Bayou Cane, Louisiana, cut staff to deal with declining tax revenues.
It goes almost without saying that many of the people who voted for Obama are among the millions who receive government benefits. But people who receive “entitlements” from the government may wind up taking a hit as well.
Among the cuts being considered in the impending “fiscal cliff” that the media have suddenly noticed, is a reduction in extended unemployment benefits.
Also, Secretary of Defense Leon Panetta said something telling the other day: “The fact is that, you know, we have addressed the discretionary area, we’ve taken almost a trillion dollars out of discretionary area and out of defense alone, almost a half a trillion dollars just out of defense. I think the responsibility now, both Republicans and Democrats, has to be to look at the entitlement area, what savings can be achieved on entitlements and what additional revenues need to be on the table as well.”
Denny’s franchisee John Metz, who owns restaurants in Florida, Virginia and Florida, has become a target of liberal ire because he plans to be upfront with his customers and include a 5 percent Obamacare surcharge on the menu.
It’s safe to say that after the majority of voters went insane and re-elected Obama, Metz’s customers won’t be the only ones experiencing a Grand Slam.