Economics 101: Schadenfreude!

Drew the Infidel wrote:

They told me bad things would happen if I voted for Romney. Boy, were they right!

Drew was commenting on a post by Phineas:

Obama donor lays off employees because of ObamaCare

Posted by: Phineas on November 14, 2012 at 3:55 pm

Nancy Pelosi said we’d have to pass the health-care reform bill in order to find out what’s in it.

Surprise!

Stryker Corporation has announced that it will close its facility in Orchard Park, New York, eliminating 96 jobs next month. It will also counter the medical device tax in Obamacare by eliminating 5% of their global workforce, an estimated 1,170 positions.

Jon Stryker is heir to the Stryker Corporation, one of the largest medical device and equipment manufacturers in the world. Stryker’s grandfather was the surgeon who invented the mobile hospital bed. The company now sells $8.3 billion worth of hospital beds, artificial joints, medical cameras, and medical software every year.

Stryker, a member of the Forbes 400 list, was one of the top five donors to the Obama campaign. Having donated $2 million to the Priorities USA Action super PAC, Stryker also gave $66,000 in contributions to Obama and the Democrat Party.

(…)

Stryker’s corporation is part of an industry that has been a big loser at the hands of Obamacare. Having refused to get on board with the White House and the Senate Finance Committee when the law was being crafted in 2009, the medical device industry was punished with an excise tax of 2.3% of their revenues, regardless of whether they make a profit.

My sympathies to anyone losing their job at Stryker, or elsewhere. Except to those who voted for Obama. All I can say to them is this is what you voted for.

Elections have consequences.

The internet has been flooded with stories about companies announcing layoffs and closures and hours reductions ever since the election, something we noted here.

Schadenfreude is supposed to be a guilty, unadmitted-to pleasure, but it seems that there is a form of karmic justice when a major donor to President Obama’s campaign winds up being one of the corporate leaders cutting jobs due to Obaminablecare. “We told you so” is more of a Pyrrhic pleasure, but I suppose that’s better than no pleasure at all.

And from Reuters:

(Reuters) – The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.

The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011.

Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.

Think about that: tax receipts for October rose by $21 billion, a very substantial 12.88%. That should be great news! But spending rose by 16.03%.

Conservatives remain baffled that President Obama could have been re-elected; how any president with as lousy a record as he had could have carried a single state is hard to believe. One explanation is that Republicans counted on the voters to be smart, while Democrats counted on them to be stupid, and the Democrats turned out to be right.

But, whatever the explanation, the President was re-elected, and we are stuck with him for another four long years. Now we see that a corporation in New York, which was carried heavily by President Obama, is seeing people being laid off.

Schadenfreude indeed. At this point, we can’t somehow un-elect the President, but, let’s face it: we told you so!

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