WHAT WILL HAPPEN TO THE UNEMPLOYMENT RATE NOW?
by Sharon Rondeau
Defense contractor Lockheed-Martin was set to announce 123,000 layoffs because of sequestration, which will take effect on January 2, as a result of budget cuts, but delayed after the Obama regime pledged that the federal government would cover any legal fees resulting from companies’ failure to adhere to a law requiring employers to notify employees 60 days prior to an effective layoff. The reduction in workforce was anticipated last summer and was reported as having ramifications for the re-election of Obama, whose regime advised the employers to ignore the WARN Act.
A Las Vegas employer laid off 22 employees consisting of 19% of his workforce as a result of the election. A coal-producing company terminated 150 of its 3,500 workers in response to Mitt Romney’s loss. American Coal has also begun laying off workers.
Fascist economies are ones in which “the government exerts strong directive influence, and effectively controls production and allocation of resources. In general, apart from the nationalizations of some industries, fascist economies were based on private property and private initiative, but these were contingent upon service to the state.”
In addition to defense contractors, the Obama regime has also controlled the media, assumed control of the auto industry by bailing out failing automobile manufacturers, and passed a banking bill which tightly regulates Wall Street and banks throughout the country.
The Obama regime has also taken control of the health care industry with “Obamacare,” which forces religious institutions to offer abortions, abortifacients, and birth control against their beliefs and in violation of the First Amendment. A provision within the bill which imposes an average $125,000 fine on hospitals readmitting patients within 30 days of discharge was not publicized during the 2012 election cycle by either presidential candidate. Medical devices will be taxed, and various taxes on Americans will be raised. Accounts established to pay for the needs of handicapped children will also be taxed. People with considerable medical expenses will be allowed to write off fewer of them on their income tax returns.
Cigna, a large health-care provider, plans to lay off 1,300 people between January and June. An employer of 8,000 people had said that he would have to downsize if Obama were re-elected but in the immediate, has given his employees raises to help offset the coming tax increases. Many other major companies have announced layoffs following the election. Many companies have closed certain locations of their businesses.
Some companies employ prisoners to make military uniforms, which reportedly increases the unemployment rate.
Medicare Advantage clients will lose benefits beginning next year under the Obamacare mandate.
The day after the election, both the Nasdaq and the Dow Jones Industrials lost more than 2% of their value. Capital gains taxes are set to rise significantly with the expiration of the Bush tax cuts unless Congress enacts new legislation.
The October unemployment report from the Bureau of Labor Statistics indicated that the national unemployment rate had dipped slightly to 7.9%, but the figure included those working part-time who are not normally included in employment statistics. Immediately after the figure was announced, analysts stated that the number was misleading. An Associated Press article stating that the October results gave Obama a “much-needed boost” has had its title changed to “Romney Trying to Seize Momentum Post-Debate” but contains no text (see hyperlink).
Some Americans believe that wealthy people are “evil.”