Indeed, every US election has economic implications, including this recent presidential election of 2012. It appears that President Barack Obama has been reelected, and a concession speech was given by Mitt Romney around midnight Eastern Standard Time on November 6, 2012. Some have wondered how this election would affect the stock market. I myself believed that if Mitt Romney was elected president the stock market would get a 1000 point boost on the Dow, that same week.Of course, many people expected that Barack Obama would be a reelected. Therefore there may not be 1000 point negative on the Dow, it’s already built in, as it is hard to unseat a sitting president, especially a populist style leader. Many companies sitting on the sidelines with tens of billions of dollars in cash had waited until after the election to decide what they would do with that money. Would they be buying back more of their own stock, investing in new innovations and expanding their businesses, or would they sit on the money and invest it elsewhere. Will these companies layoff people, move their operations to foreign countries where there were fewer regulations and lower taxes?One company certainly didn’t hesitate to wait. ING Corporation announced 350 layoffs just 10 minutes after Mitt Romney gave his concession speech. Of course, some people might say that they did that because no one would have noticed the news because everyone would be watching news about the election. Or, perhaps they did wish to make a statement giving a no-confidence vote to four more years of Barack Obama as president. Either way, they won’t be the only corporation shedding jobs, and realizing that there’s a good chance we will slip back into recession now.The Congressional Budget Office (CBO) had put out a report that if taxes were raised, and if government spending was tightened, along with sequestration that there would be a recession. Meanwhile, our federal government does have to stop spending $1 trillion a year or more than it takes in in tax revenue. It was very likely that whoever was elected president would have to deal with that as well. Now my question is what to do if you run a business, small or large, facing what we will be facing in 2013.My advice to small business people is to quit while they’re ahead, let everyone go, and go find a safe place to retire. My advice to large corporations would be to go bare-bones on the expense and that would mean letting go of thousands of workers and depending on the size of the Corporation it could easily be 10s of thousands.We know what will happen under a Barack Obama Administration in the next four years, exactly what’s happened in the last four. Should we expect both sides of the aisle to come together in the government? Let’s hope not, because they will just keep spending more money either way.American voters have made a choice, albeit in my opinion a very poor one. There will be serious repercussions to our economy and to our business community; to our unemployment numbers, and to our future as a nation. Indeed I hope you will please consider all this and think on it.