Now They Come Clean

Whenever conservatives would say that the federal takeover of health care was about control and power, the Dems screamed that we were lying to the people. Now, Rep. John Dingell (D-MI) admits as much. Funny how this didn't come out before the vote.



Nancy Pelosi insisted that they needed to pass the bill in order to see what's in it. We're beginning to find out and it's as ugly as many feared.

As noted in several places, the new health-care bill has already made the cost of employees more expensive and taken away capital that could otherwise have been used to hire workers.

Farm-equipment manufacturer John Deere "said it expects its expenses to rise by around $150 million on an after-tax basis, mainly in the second quarter, as a result of the legislation."

Verizon "told employees in an email Tuesday that Verizon's costs will go up in the near term, pinpointing a tax-subsidy reduction for retiree health benefits."

Heavy-equipment manufacturer Caterpillar "said that its first-quarter earnings will be hit with a $100 million after-tax charge under tax law changes attached to the new health care reform legislation."

AK Steele Holding Corp., "the third largest U.S. steelmaker by sales, said it will record a non-cash charge of about $31 million resulting from the health-care overhaul signed into law by President Barack Obama. The charge will be recorded in the first quarter of 2010."

Valero Energy "will take a $15 million to $20 million charge to second-quarter earnings for the same reason."

Medical-device maker Medtronic "warned that new taxes on its products could force it to lay off a thousand workers."

AT&T Inc. said it plans to take a non-cash charge of about $1 billion in the first quarter following the passage of the health-care reform bill earlier this week, according to a filing submitted by the company Friday. The telecommunication giant will also evaluate changes to its health care benefits for employees and retirees.

Remember when President Obama promised that if you liked your health care plan you could keep it? Tell that to the folks at AT&T or the folks at Medtronic in Chelmsford who are about to lose their health care plans, because they're going to lose their jobs.