Well, you're about to live it. Or, if you already are, others are, too.
Government regulations are the beatings on the economy. And when the government regulations cause the economy to falter, the government will simply issue more beatings, in the form of regulations.
Obamacare is one of the major problems. It's causing business expenses to increase, and businesses are cutting where they can. That includes wages.
Some businesses are reorganizing internally and reclassifying some positions so that jobs that were salaried are now hourly. Businesses are also cutting back on hours for some employees; some cuts to simply reduce wages, others to exempt those employees from full-time status and the requirement to cover them under Obamacare. Those employees get to pay the Obamacare tax -- they call it a fee or a penalty, but it only passed Constitutional muster because it's actually a tax -- so they are covered, as required by law.
When this impacts people, particularly people who voted for Obama, two things will happen.
- More regulations
Now, everyone on the left will say how great the economy is because of all the number of people with jobs, even though more of those jobs will be part-time, and even though more and more will stop looking for work because it's not worth it.
The numbers, because of the way they arrange them, will look good. Well, not all numbers. The numbers on people's paychecks and in their bank accounts won't look so good.
But rest assured, the government has a plan to deal with the economy: the beatings will continue until morale improves.