Great Recession 2.0

Well, this didn’t take long.

There were those of us who thought the U.S. economy would take off like a rocket, just as soon as the voters expelled Barack Obama from office, and we expected that to happen.

Of course, when you think that way, you also have to be prepared for the economy to do what it logically would do if your expectations were mistaken.

Less than 24 hours after the horrible election results were known, the waves of layoff notices began rolling across the country, suggesting official (lowball) unemployment rates will soon reach double digits.  Here are just a few examples:

  • Welch Allyn – laying off 10% of its workforce
  • Stryker – 1170 layoffs
  • Boston Scientific – up to 1400 layoffs
  • Medtronic – up to 1500 layoffs
  • Smith & Nephew – 770 layoffs
  • Abbott Labs – 700 layoffs
  • Covidien – 595 layoffs
  • Kinetic Concepts – 427 layoffs
  • St. Jude Medical – 300 layoffs
  • Hill Rom – 200 layoffs

Some of our readers might be too young to pick up the message of the “Mourning in America” headline we used last week, which also appears in the Freedom Works posting linked above.

It’s an ironic reference to Ronald Reagan’s 1984 re-election campaign theme that introduced the most memorable, and truthful, of his TV ads, celebrating our recovery from a deep recession: “Its morning in America. People are making plans again…”

That last line still applies, in a sad sort of way. People most certainly are making plans: The layoff notices that are just beginning are a big part of it. People are trying to plan how they’ll reduce their exposure to the vengeful idiocies now bearing down on anyone who tries to build useful things through private initiative.

They’re trying to plan how they’ll survive the onslaught of a government obsessed with tearing down Reagan’s America, the country that prospered by valuing honest rewards for honest work, the spirit of enterprise, and personal responsibility.

Our response to the coming economic debacle will show once and for all if that’s who we still are.

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About Wisconsin Club for Growth
The Club for Growth is a national network of over 40,000 men and women, from all walks of life, who believe that prosperity and opportunity come through economic freedom. Wisconsin Club for Growth, Inc. is dedicated to informing, educating and rallying citizens of Wisconsin to embrace and enact policies that lead to sustained economic growth, limited government, and minimal taxation. Wisconsin Club for Growth can and will have an enormous impact on the direction of our state. Wisconsin Club for Growth believes that effective lobbying is done at all stages of the budget cycle, including when our leaders make public promises and can be encouraged to support policies that spur economic growth. Wisconsin Club for Growth believes we must support pro-growth policies and encourage public officials with backbones to remain truly committed to making our economy and our state stronger. Wisconsin Club for Growth believes our leaders must stand up to the tax and spend mentality in Madison and work tirelessly to cut taxes and unleash the power of the free-market.

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