The People have spoken, and business has replied. Layoff announcements are mounting at an unprecedented rate in response to Obamacare since President Obama won his second term Tuesday night.
As markets around the world fell upon the news of Tuesday night’s election results, businesses have shed nearly 20,000 jobs already this week, with job loss estimates that could reach as high as 150,000 by month’s end.
David Barr, an Atlanta-area franchiser of Taco Bell and KFC who operates 23 stores with a total of 421 employess (109 of which are full time) had this to say about business owners who thought that the reports of the devastating effects of Obamacare on their businesses were overblown.
“They had their head in the sand,” Mr. Barr said, who, using a Power Point presentation and basic mathematics, shows how Obamacare forces him to either pay an additional $315,000 a year for employee health care or cut their hours and replace them with machines. ”Every business has a way to eliminate jobs,” he said, “but that’s not good for them or me.”
Who’s next is anyone’s guess.