This isn't the private sector. Once you get in the union is pretty influential in terms of keeping you around. So, layoffs? No. Not gonna happen. Their short people, hence the hiring. And Regan fired them for striking - an illegal act - not because of financial purposes.
That said, while you may not have to worry about being 'furloughed', you do have the following considerations:
Training - will you make it? Many think the notion of sending OTS applicants to level 10, 11 and 12 facilities is, well, retarded. But, they need warm bodies.
Medical - can you keep it? Many do, some don't. But once you're into CPC status then you can probably switch to some other non-saftey position. Every facility has this.
Do you like it - my facility has had NUMEROUS developmentals resign. Some to go to the Police department --- that should strike home. Others to go fly EMB 120's and make 800 a month.
Privatization - not as likely with Obama in office but definately a consideration. Boeing, Lockheed and probably others have plans all layed out so if the government says 'start bidding' all they'll have to do is bid right then implement the plan they've spent x amount of time and money developing.