By Peter Andrew – ConservativeAmerican.org – Leading the way Right
We have heard so much in recent days about the fact the White House knew millions would lose their healthcare and pushed and passed the nightmare law anyway. The White House also knew, and admitted, businesses stood to lose Billions of dollars and pushed and passed the nightmare anyway.
On March 31st, 2010 Valerie Jarrett (Rush Limbaugh has pointed out some people think Jarrett is the real person wearing the pants in the White House) admitted that huge losses by business were not “unexpected.”
In fact, the Obama Administration “Expected” Businesses to Lose Billions of Dollars with Passage of ObamaCare Nightmare!
“John McCormick at Bloomberg reports, “Jarrett said the charges taken by companies such as AT&T weren’t unexpected.” McCormick reports Jarrett, “…doesn’t believe businesses are trying to damage the image of the health-care overhaul with accounting charges tied to the law… AT&T, based in Dallas, announced last week that it was taking a $1 billion charge because of the change in law. Moline, Illinois-based John Deere, the world’s largest maker of farm machinery, announced a $150 million charge. And Peoria, Illinois-based Caterpillar, the world’s largest maker of bulldozers, has claimed a $100 million charge. “The companies who are reporting this charge against their net earnings aren’t pushing back, they’re following the law,” Jarrett said.”
ConservativeAmerican.org asks if Jarrett told McCormick these huge losses were “not unexpected,” then why didn’t the Obama Administration tell the truth admit ahead of time this bill would clobber big employers?!
Jarrett apparently didn’t get the DNC memo from Congressman Wormtail Waxman! McCormick reports, “Representative Henry Waxman called March 26 for the CEOs of several companies to provide evidence to support costs they plan to book as a result of the change.” — ConservativeAmerican.org points out Waxman apparently thinks the companies are just playing games and trying to hurt the Pro-regressive-Socialist Democrat party!
He apparently was unaware of SEC regulations requiring companies to report immediately on changes like this.
So again, we have a case where Team Obama knew the Obamacare Nightmare would be bad for America and passed it anyway.