AT&T, Deere CEOs Called by Waxman to Back Up Health-Bill Costs (Rats don't like the consequences)

Business Week ^ | 3/27/2010 | Viola Gienger

[tobyhill]

Representative Henry Waxman called the chief executive officers of AT&T Inc., Verizon Communications Inc., Caterpillar Inc. and Deere & Co. to provide evidence to support costs the companies plan to book related to the new health-care law.

Waxman of California, chairman of the House Energy and Commerce Committee, and subcommittee Chairman Bart Stupak of Michigan released letters they wrote to the executives, saying their plans to record expenses against earnings as a result of the law contradict other estimates. The lawmakers requested the executives appear at hearing Stupak plans on April 21.

“The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern,” Waxman and Stupak, both Democrats, wrote in the letters yesterday. “They also appear to conflict with independent analyses.”

AT&T, the biggest U.S. phone company, is among employers that have announced plans to book costs related to the health- care law signed this week by President Barack Obama. The 10- year, $940-billion legislation is intended to cover 32 million uninsured Americans and provide benefits such as restricting premiums and ending the practice of denying coverage for pre- existing conditions.

[NTHockey]

Tell the criminals to pack sand.

[Adder]

Dear Waxy:
Screw you.
Sincerely
CEO’s

[wayoverontheright]

OK, boys and girls, this is the way it’s going to be. Not only are you going to take your medicine, you’re going to LIKE it.

[tobyhill]

“Waxman and Stupak said the Congressional Budget Office had reported that average premium costs per person would decrease as much as 3 percent by 2016 for companies insuring more than 50 employees.”

Waxman and Stupid Stupak just contradicted Obama’s claim that premiums for companies will decrease between 15% and 20%.
Next up, “premiums would have increased more if we hadn't acted”.

[Daisyjane69]

This is gonna be popcorn time, I’m thinking.

I heard earlier today that about 3500 companies participate in this program. And if publicly traded, they ALL have to report these losses within the quarter they are announced. Which is the first quarter of 2010. That is the law.

The deadline of which is Wednesday this upcoming week.

LOL

[ronnie raygun]

This is like anyone of us average citizens telling these big corporations that make billions how to run thier business efficiently. To a##clown elitists with no knowledge of business let alone governance

[Venturer]

The Pig Man is trying to intimidate these companies.

Not only do Americans get screwed by this health bill we have to have people like the Pig Man Waxman harass them.

[Ladysmith]

More discussion here. Good explanation at post #34. http://www.freerepublic.com/focus/f-news/2481533/posts

[bitterohiogunclinger]

Waxman and Stupak, two of the smartest men in America, are shocked that their massive Communist takeover of one sixth of the economy will raise costs to employers. Perhaps this is why every economic and unemployment report is “unexpectedly” worse than first thought?

Of course we must trot out DemonRAT lapdog GE to say “we don't expect to have higher costs this year”.

Who to believe....?

[BallyBill]

Hey Nostrilus, can we give them a Show Trial like you love to put on for the media? Somehow, I’ll bet he doesn’t want cameras around when these guys start quoting figures.

[Madame Dufarge]

What good little myrmidons:

No Charge at GE

General Electric Co., the world’s biggest maker of jet engines, power-plant turbines and locomotives, said today it doesn’t anticipate taking a charge tied to the health-care law.

GE, of Fairfield, Connecticut, doesn’t see any “material effect” from the law, spokeswoman Anne Eisele said today.

[verga]

I think it is very interesting that this comes out AFTER the bill is passed and signed.

I also think that it should have a big ole'

[centurion316]

ATT is required by law to tell their shareholders the truth. Waxman and the rest of his lying politician cronies are under no such constraint.

[raygun]

Yeah. No doubt. This is most extremely interesting in how its going to play out.

You don’t think it’ll amount to telling truth to power do you?

The fact is, the more “victories” the Democrats accumulate, the more they “own”.

[tgusa]

Waxman and Stupak. Thank you, Dems, for providing two such excellent examples of your intellectual prowess. “Holy crap,” as Frank Barone would say.

[pepsi_junkie]

Oh no! Eeeeeeevil CEOs want to drop your health care coverage just because they want to make money! How rotten! Why, we must quickly institute the public option so these poor, abused and exploited workers no longer depend on eeeeeevil business to take care of them, especially since those businesses would just as soon sneak into their homes at night and hold a pillow over their babies mouths and noses just to save a buck, ya know.

Let's see if I got Waxman's rant about right.

[a real Sheila]

Guess certain members of Congress won’t have much of a recess. They will be too busy threatening CEOs (and news media) between now and Tuesday.

Most of the media simply won’t report the losses.

[pnh102]

Waxman and Stupak said the Congressional Budget Office had reported that average premium costs per person would decrease as much as 3 percent by 2016 for companies insuring more than 50 employees.

3 Percent? That's 3 orders of magnitude below the savings of 3000% as claimed by our dear leader.

[D1X1E]

And this is how I fear it will continue to be. Over time, anyone who points out the costs, the disregard of the constitution, the very wrongness of the so called healthcare bill, will be singled out, demonized, harassed, punished. If government is allowed to continue down this road it will become illegal to speak out against the government on any matter. There are those who think I am over reacting. History tells me no I am not. This is the way of all dictatorships.