I know we're freakin' covered up and I just today received the last of my back paychecks - I'm up to date! Honestly I don't know how we would get the work done had we laid off anyone when work was short. Fees are down, collections suck, and I know lots of architects (and a few engineers and designers) still unemployed, but we're pretty busy. (None of which is stimulus money projects BTW.) Right now the two things holding back AEC work are the general uncertainty of the business climate - large companies are not hiring because they don't know what Obamacare, higher taxes, more regulation, and cap-n-tax are going to do to their bottom line - and lack of available loan money for new capital projects. We've had a number of projects either stillborn or aborted because profitable companies can't get more than about 50% financing, and because of the uncertainty noted above they need to hold on to their cash (not being large enough to get bailed out with taxpayer money.)
I think if the Pubbies take even just the House, thereby killing the Obama agenda of a big government centrally planned economy, then the economy and employment will spring back. The only caveat I'd put on that is how much of his agenda Obama will enact through executive action.
A lot of efforts to jump start small businesses (which is where the real unemployment assistance will come from) has been blocked in the Senate by the GOP. In particular, efforts to address just what you mentioned: lack of capital.