I'm not sure that consulting would be a bad way to go. I've seen a few companies that have cut staff only to hire them back as consultants at least part time,

I'm not sure that consulting would be a bad way to go. I've seen a few companies that have cut staff only to hire them back as consultants at least part time, sometimes paying more for the person than they were before (minus benefits). I wouldn't be so quick to say that consultants are the first to get the axe when the economy slows down. However, it is a different existence as there will be a constant turnover on contracts.