The above post is correct. And that's how many of the PSA guys and gals felt and thus voted no. Unfortunately there weren't enough no voters.

If the retirement continues at the majors and the regionals are hurting for pilots (which they are not at the moment), then the cap won't matter to 80% of us. But If we have another 9/11, recession or oil spiking again, I can see many of us regretting greatly. As a gambling man, the odds are that the planes will come and the stagnation will cease and honestly if eagle MEC hadn't voted it down, I would've voted yes as well.