Pharmaceutical companies are doing their part to stimulate the economy

The Financial Times reports this morning that Roche plans to cut 4800 jobs in 2011 and 2012. This comes on the heels of Merck's decision to cut 15,000 jobs and Pfizer's decision to cut 6000. I don't know much about economics, but I do trust the judgment of the Congressional Republican leaders and liquidationists around the world who tell me that the key to economic recovery is for everyone to tighten his belt and balance his budget, whose main legislative priority is to cut government spending and freeze new hiring of government workers. With our large corporations taking their cue from the Republicans, prosperity must surely be around the corner!