The looming standstill in the U.S. economy has intimidated private sectors into cutting operating costs by handing out pink slips -- thousands of them. In July, the number of job cuts increased by 60.3% -- approximately 66,414 jobs -- compared to the previous month, according to a report from consultants Challenger, Gray & Christmas, Inc. Many of the massive workforce downsizing came from sectors who endured fairly well in the past. Read more: 14 Of The Biggest Mass Layoffs In 2011 For all of you idiots advocating tax cuts to foster job creation you are technically right: tax breaks are fueling jobs. Unfortunately those jobs arent arent here!!! Tax the daylights out of companies that producs abroad and sell here. Be careful of wishing for free markets, you might just get what you asked for.