Posted on 03/30/2010 3:58:02 PM PDT by raptor22
Remember the Enron scandal in 2001, which drove a bipartisan majority in Congress to demand far-reaching reforms in corporate accounting? Democrats have discovered this week that maybe they can't handle the truth -- at least not when it exposes the real economic effect of Obamacare on private sector companies large and small. Thousands of employees, their families and retirees get their health insurance coverage through firms that are now having to figure out how to cope with government-run health care.
On Capitol Hill and in the White House on Monday, Democrats were fuming over a series of announcements that started Friday from Fortune 500 firms saying their bottom lines will take huge negative hits because of changes in tax law mandated by Obamacare. That hit in turn means lower profit projections. Caterpillar estimates, for example, that Obamacare will cost it $100 million; John Deere faces expenses of $150 million; 3M, $90 million; AK Steel, $31 million; Valero, $20 million. And then there's AT&T, which is marking its balance sheet down by a whopping $1 billion. All in all, the Wall Street Journal estimated a $14 billion haircut for these corporations.
(Excerpt) Read more at washingtonexaminer.com ...
They don’t care about anything other than their own power. We didn’t leave the government, they left us...
Non-existent. An oxymoron.
A God given chance to tell these posturing buffoons the truth about Obozocare; I wonder how many CEOs will take that chance!
One of the most famous Committee moments was fighting back against McCarthy.
The Ollie North show trial was another.
“Non-existent. An oxymoron.”
Point taken, but in truth, Rep. Paul Ryan gave an excellent honest accounting of ObamaCare both in the WH summit and on the House floor during the final debate on the health bill. Unfortunately, no Dems (including the president) were paying attention since it might have forced them to concede that the entire plan was being sold using gimmicks that literally would be illegal in private sector firms. The irony is that the only reason these private sector firms are bringing these inconvenient figures to light is because FEDERAL accounting rules require them to do so!
Rats fear the sunlight. Your post is full of win.
Democrats are the enemy of freedom.
Madoff has nothing on the dems and/or the CBO.
For shame.
He's doing a good job of it. We need more like him.
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