The Obama Re-Election Economic Fallout

[bush_cheney2004]

... The American people just had an election in this and 51 percent of the people hated your alternative.

Great...then they can live with their choices and be happy about being unemployed or underemployed.

[punked]

Great...then they can live with their choices and be happy about being unemployed or underemployed.

We got 4 years to see where it goes my bet is in 4 years more Americans will be employed the today. Seems like 61 million Americans feel the same way.

[bush_cheney2004]

We got 4 years to see where it goes my bet is in 4 years more Americans will be employed the today. Seems like 61 million Americans feel the same way.

You need four more years to be certain of this? Does not inspire confidence. Welcome to the new normal.

[TimG]

Yes but those with basic math skills would also look at the part of the healthcare law that makes illegal to spend more then 20 on overhead and thus insurance premiums are slowing in growth

You are completely ignoring the fact that mandating coverage increases costs - much more than can be recovered with "administrative efficiencies". People *will* lose their current coverage as a direct result of Obamacare (I gave two concete example). This is a fact. Now you can argue it is price worth paying but it is dishonest not to acknowledging this fact.

[punked]

You need four more years to be certain of this? Does not inspire confidence. Welcome to the new normal.

Well you better sit back and enjoy the ride because the American people spoke. Not matter what right wing American thinks they will not repeal health care act and America will continue to grow and have success.

[punked]

You are completely ignoring the fact that mandating coverage increases costs - much more than can be recovered with "administrative efficiencies". People *will* lose their current coverage as a direct result of Obamacare (I gave two concete example). This is a fact. Now you can argue it is price worth paying but it is dishonest not to acknowledging this fact.

The time to make the argument was 2 weeks ago. Your side is either dead wrong or did a poor job. I len toward the second because you out spent team Obama 2 to 1 when the PACs are included but your message was rejected. I think of very times the American people have been wrong so.

[bush_cheney2004]

....This is a fact. Now you can argue it is price worth paying but it is dishonest not to acknowledging this fact.

I would rather have a job and some income over the right to stand in a long line for ObamaCare.

[bush_cheney2004]

Well you better sit back and enjoy the ride because the American people spoke. Not matter what right wing American thinks they will not repeal health care act and America will continue to grow and have success.

That's fine by me...I am looking forward to all the unintended consequences. Should make for great political entertainment.

[TimG]

The time to make the argument was 2 weeks ago.

My side? I am a Canadian. I don't have a 'side' in a US election. What I care about are people demonstrating ignorance of basic economics because that ignorance leads them to make bad decisions in elections here.

The question now is whether Obama (this so called centrist) will recognize Obamacare for the pig it is and look for face saving fixes or whether he will continue on the current path which leads to higher unemployment.

[cybercoma]

Papa John's CEO: Obamacare likely to raise costs, employee's hours being cut

http://www.wptv.com/...hours-being-cut

The Obama economic wrecking ball continues for another four years. Can't wait.

So let me get something straight. Papa John's can afford to give away 2 million pizzas, but they can't afford an addition $0.14 per employee that Obamacare is costing them.

Riiiight.

[bush_cheney2004]

So let me get something straight. Papa John's can afford to give away 2 million pizzas, but they can't afford an addition $0.14 per employee that Obamacare is costing them.

Don't confuse a short term promotion (cost of sales) with a long term labour cost.

[cybercoma]

More than a few job losses, but wait for cap and trade, there'll be more.

http://www.examiner....nce-of-election Three days after the re-election of President Barack Obama, consequences are being felt. Dozens of companies have announced layoffs since Tuesday’s election, and the list is expanding rapidly.

The companies announcing layoffs now include:

• Westinghouse
  
• Research in Motion Limited
  
• Lightyear Network Solutions
  
• Providence Journal
  
• Hawker Beechcraft
  
• Boeing
  
• CVPH Medical Center
  
• US Cellular
  
• Momentive Performance Materials
  
• Rocketdyne
  
• Brake Parts
  
• Vestas Wind Systems
  
• Husqvarna
  
• Center for Hospice New York
  
• Bristol-Meyers
  
• OCE North America
  
• Darden Restaurants
  
• United Blood Services Gulf
  

These companies alone represent thousands of jobs

Other companies planning Obamacare-related cuts include:

Smith & Nephew – 770 layoffs

Abbott Labs – 700 layoffs

Covidien – 595 layoffs

Kinetic Concepts – 427 layoffs

St. Jude Medical – 300 layoffs

Hill Rom – 200 layoffs

Beyond the complete elimination of a significant number of American jobs is another looming problem created by the health care law – a shift from full-time to part-time workers.

What are you, a broken record? I addressed most of these layoffs in another thread. To which you plainly agreed that it has little to do with Obama winning the election. You've decided to switch gears from that and just blame the whole economic situation on Obama (really? RIM is laying off people because of the economy?). Meanwhile, if Canada's economy is poor, it's the fault of Europe, not Harper. More to the point, some of those layoffs above are due to government cutbacks, which last I recall the Republicans were ardent supporters of and calling for even more austerity. And speaking of Republicans, it's pure fantasy to lay the blame of the world economic crisis on the GOP because it was Republicans and neo-conservatives (liberals in European speak) that loosened up the reigns for the banks to run roughshod, damn near destroying the world economy.

It's impossible to come to constructive solutions to the problems we're all facing right now if conservatives like you and Shady (but more specifically conservatives that you get your information from) continue to live in an alternate universe, where facts don't mean shit. If you people were more concerned with solving problems than pointing fingers, we would be in a much better place right now. But double down, conservatives. Double down. The middle class seems to absolutely love your un-cooperative ways.

[sharkman]

So let me get something straight. Papa John's can afford to give away 2 million pizzas, but they can't afford an addition $0.14 per employee that Obamacare is costing them.

Riiiight.

Your link doesn't include that .14 per employee number, where did you get it? And is that .14 per year, per hour or what?

At any rate, companies always try to avoid additional expense, just like people do. If you go out to buy an item and it's less at store A vs B, all other things being equal you will opt for the cheaper price. If a business can avoid additional expense of medical healthcare for employees, they will. Just as people are pulling their money out of the DOW leading up to Jan 1 when taxes on dividends triple from 15% to 43%. And this is because Obama doesn't yet understand how business works.

[bush_cheney2004]

Medical device manufacturers in my state (Medtronic, St. Jude, Boston Scientific, etc.) have already started moving manufacturing offshore to avoid ObamaCare's new tax on such medical products. Thank you Mr. President !

Edited November 11, 2012 by bush_cheney2004

[scribblet]

What are you, a broken record? I addressed most of these layoffs in another thread. To which you plainly agreed that it has little to do with Obama winning the election.....

I did ? The only other post on job losses I made was here

http://www.mapleleaf...pic=21847&st=30

Edited November 11, 2012 by scribblet

[sharkman]

Yeah, BC had nothing to do with that link. All of the layoff's listed may not be connected, but the overall picture is indeed not rosy, and this is the time when employment should be gowing leading into the christmas season.

[cybercoma]

Your link doesn't include that .14 per employee number, where did you get it? And is that .14 per year, per hour or what?

At any rate, companies always try to avoid additional expense, just like people do. If you go out to buy an item and it's less at store A vs B, all other things being equal you will opt for the cheaper price. If a business can avoid additional expense of medical healthcare for employees, they will. Just as people are pulling their money out of the DOW leading up to Jan 1 when taxes on dividends triple from 15% to 43%. And this is because Obama doesn't yet understand how business works.

They avoid additional expense..... but they can give away 2 million pizzas. It doesn't make sense.

Look it up. He told shareholders it would cost between 11 and 14 cents more per pizza actually.

So again... he can give away 2 million pizzas, but then he's worried about the cost of pizza going up 11 to 14 cents for Obamacare?

I wonder how many customers would pay 11 cents more per pizza in order to ensure that the people making it get adequate healthcare. The answer is almost everyone.

Edited November 11, 2012 by cybercoma

[cybercoma]

Yeah, BC had nothing to do with that link. All of the layoff's listed may not be connected, but the overall picture is indeed not rosy, and this is the time when employment should be gowing leading into the christmas season.

The overall picture is not rosy. The overall picture according to what? FOX News? Tea Party bloggers? The job numbers came out and looked decent, considering the world economy right now. So what overall picture are you trying to pretend exists here?

[sharkman]

The overall picture is not rosy. The overall picture according to what? FOX News? Tea Party bloggers? The job numbers came out and looked decent, considering the world economy right now. So what overall picture are you trying to pretend exists here?

The job numbers came out and looked decent? They were not strong numbers, they need 250000 new jobs a month for 2 years to get back to where they were. But now that business knows who's in the white house for the next 4 years, and what taxes are going to do in January(on top of the additional expense of Obamacare), they started doing some layoffs. Business doesn't care what you or I think. They try to minimize losses and mazimize profits. So the overall picture is not confidence building since on top of this, the fiscal cliff is approaching.

[Pliny]

The overall picture is not rosy. The overall picture according to what? FOX News? Tea Party bloggers? The job numbers came out and looked decent, considering the world economy right now. So what overall picture are you trying to pretend exists here?

AS long as there are "free" Obamaphones and contraception for women, food stamps, healthcare continues to be more affordable, Osama bin Laden remains dead, Al-queda stays on the run, horrible anti-Muslim videos are not causing riots and attacks on American consulates in the middle-east, and Bush can be blamed for the economy, all is indeed rosy.

[WIP]

This is the primary reason I was against Obama's re-election. I'm concerned about the American economy going forward, especially as it pertains to the negative effect it will have on the Canadian economy. Without a strong, growing America, our economic growth will be tepid at best.

Boeing Announces Big Layoffs in Defense Division

http://www.cnbc.com/id/49729998

Coal company to lay off 156 workers in Utah

http://www.canadianb...ers-in-utah-ill

Welch Allyn to cut 275 jobs due to new tax mandated by health care law

http://www.syracuse....275_worldw.html

Dana considering layoffs as Obamacare costs mount

http://thurbersthoug...-obamacare.html

Stryker layoffs blamed on Obamacare tax

http://www.mmm-onlin...article/247605/

Vegas Employer: Obama Won, So I Fired 22 Employees

http://lasvegas.cbsl...d-22-employees/

blah blah blah blah etc etc blah blah blah!

If Shady's theme that you better vote for the oligarch's favourite or The Man will fire you from your barely minimum wage job, then that should tell anyone with a clue that they have too much power over working people already and it's time for a revolution! I think Karl Marx had a few things to say about those with the capital owning the lives of those who provide the labour back about 150 years ago. It's too bad that lessons learned were all forgotten over the last few decades!

[sharkman]

The job numbers came out and looked decent? They were not strong numbers, they need 250000 new jobs a month for 2 years to get back to where they were. But now that business knows who's in the white house for the next 4 years, and what taxes are going to do in January(on top of the additional expense of Obamacare), they started doing some layoffs. Business doesn't care what you or I think. They try to minimize losses and mazimize profits. So the overall picture is not confidence building since on top of this, the fiscal cliff is approaching.

More proof? The DOW continued it's downward trend today, down 185 points. The fiscal cliff is calling and Obama doesn't seem to be taking it seriously. We'll see I suppose.

[bush_cheney2004]

It's a game of "chicken" with President Obama wanting a bill to extend Bush era tax cuts for all but the so called "rich" (income > $250,000). These should have expired in 2010, but politics got in the way. The only real leverage the House has is not raising the debt ceiling, a near suicidal move for the next mid-terms. My taxes should be going up, but instead we will get more debt.

[Smallc]

More proof? The DOW continued it's downward trend today, down 185 points. The fiscal cliff is calling and Obama doesn't seem to be taking it seriously. We'll see I suppose.

Actually, it's the fact that the Republicans don't want to seem to give an inch. He's leaving it in their hands. He's willing to meet them half way, they just have to budge.

[punked]

Actually, it's the fact that the Republicans don't want to seem to give an inch. He's leaving it in their hands. He's willing to meet them half way, they just have to budge.

Aint that the thing. Sharkman refuses to accept the REPUBLICAN congress has a role to play.