Saturday, March 27, 2010

And The Fallout Begins - Costs of Obamacare

Accounting rules require that publically traded companies must restate earnings when there are changes to healthcare liabilities.  As much as the defenders of this "reform" may not like it, we will be hearing about this over the next few weeks.  So far the damage is as follows:

AT&T $1 Billion
John Deere $150 Million
Caterpillar $100 Million
AK Steele $31 Million
3M $90 Million
Valero Energy $20 Million

Verizon has sent out warnings to employees that healthcare costs will increase.  This is not going to sit well with union employees. 

Caterpillar had already announced layoffs before the bill passed.  I don't think I am going out on ledge to say more may be in the offing in coming days. 

For those who have internet service through AT&T should expect a raise in fees.  As much as democrats don't want to admit this, companies don't absorb these costs, they pass them on.  Fewer available jobs, lower wages, cut hours, and higher costs to consumers. 


Janie Lynn said...

Did they really think the truth wouldn't come out?? My question is though, why on earth didn't any of these corporations try to fight the bill?

Just a conservative girl said...

I read today that they did, but the media more or less ignored it.

Yours, Sincerely said...

I think a lot of us still want to believe that the Pres. and his ilk have good intentions towards this country. We want to believe that he really wants to save the economy, in his own warped, socialistic Utopian way. I don't think so at all. I'm convinced that he wants to crash our economy, and with it, our country and our Constitution, and then create some New World Order out of the ashes. I know, it's "out there," but look at his consistent choices for overloading our economic system to the point of bankrupting the nation. Just sayin.' If I'm wrong (and I hope I am), time alone will tell.

Just a conservative girl said...

there are many out there who think what you are saying is true. I am not sure that I have gotten to that point yet, but there is no doubt in my mind that he is trying to turn us into a European style quasi-socialist country.

I recently heard a liberal admit that this is going to cost money. She said that this is a moral issue, and so what if it costs more. I wish the rest of them would be that honest about it.

Although, it cracks me up that they are talking about morals. If the right tries to talk about abortion as a moral issue, they don't want to hear it.

hometown guy said...

as this blog's token lefty, i want to respond only to the last thing said: if people on my side were more honest with themselves about what abortion means, i think our national conversation would be a lot more of an agreement than an argument. on this one, the "conservative" viewpoint is super easy to wrap your head around, and i for one can't believe more of my fellow dems can't do it.

on another note, i support the health care bill. as you know.

Just a conservative girl said...

I am interested to know if you are willing to admit that the CBO report on the cost of the bill is bogus? Do you agree with Kirsten Powers that it is about morality? Again, you are a level headed guy, so you must realize that what they are saying about the cost is simply false.
I would much rather hear someone say it is the moral thing to do instead of lie about how it is going to save money.
And by the way, isn't odd that the dems are talking about legislationing morality? I don't think it is the job of the government to decide what our morals are.

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