This past week several big companies, including Caterpillar, Verizon, and AT&T, announced that ObamaCare would cost them millions of dollars this year. To pay for it they variously suggested layoffs and benefits reductions. Analysts suggest that the total first-quarter hit to S&P 500 firms will be $4.5 billion.
Well, Democrats can't stand to have their precious economy-destroying healthcare program criticized in its very first week, so they've announced an "investigation" into the claims. Late yesterday, the House Subcommittee on Oversight and Investigation sent letters to the CEOs of AT&T, Caterpillar, Deere & Co, and Verizon asking them to appear for a hearing on their claims. In the letters, Waxman and Stupak ask for company documents including accounting analyses and the internal emails of all "senior company officials" related to the projected costs of ObamaCare. How serious are they? The letter actually defines "senior company officials."
More from Ace:
This will be as much of an "investigation" as the Democrats' demonization of oil company CEOs last summer or Toyota execs more recently.The Powerline Blog has copies of one of the letters. You have to read this thing. God have mercy on us all. Go here for page one and here for page two.
And look on page two at who is chairman of the House Committe On Oversight And Investigation, helping preside over these show trials.
Bart "Hold Out For More Earmarks" Stupak.
To paraphrase Glenn Reynolds, they told me that if I didn't vote for Barack Obama, there would be a government crackdown on free speech. Well, they were right.