Extremism at AT&T
AT&T Inc. will take a $1 billion non-cash accounting charge in the first quarter because of the health care overhaul and may cut benefits it offers to current and retired workers.
… AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health care law that President Barack Obama signed Tuesday will raise their expenses. … 3M Co. said it will also take a charge of $85 million to $90 million.
All five are smaller than AT&T, and their combined charges are less than half of the $1 billion that AT&T is planning. The $1 billion is a third of AT&T’s most recent quarterly earnings. In the fourth quarter of 2009, the company earned $3 billion on revenue of $30.9 billion.
… the health care overhaul will require them to start paying taxes next year on a subsidy they receive for retiree drug coverage…
AT&T also said Friday that it is looking into changing the health care benefits it offers because of the new law. Analysts say retirees could lose the prescription drug coverage provided by their former employers as a result of the overhaul.
Wonder if Government Motors is getting an exemption? Benefits costs are what got them into trouble in the first place.
As for her claim that the GOP is running around screaming that the sky is falling, well, yes: “The sky is falling” means that we’re now en route to single-payer health care, with a detour to a public option that’ll be passed once enough insurance companies have gone bust because they can’t cope financially with O-Care.
Extreme graft. Extreme Hypocrisy.
After health care vote, Stupak 11 request billions in earmarks
A day after Rep. Bart Stupak, D-Mich., and ten other House members compromised on their pro-life position to deliver the necessary yes-votes to pass health care reform, the “Stupak 11” released their fiscal year 2011 earmark requests, which total more than $4.7 billion–an average of $429 million worth of earmark requests for each lawmaker.
Extremism in the UK. The future under Obamacare?
Tens of thousands of NHS workers would be sacked, hospital units closed and patients denied treatments under secret plans for £20 billion of health cuts.
The sick would be urged to stay at home and email doctors rather than visit surgeries, while procedures such as hip replacements could be scrapped.
The plans have emerged as health chiefs draw up emergency budgets that cast doubt on pledges by Gordon Brown to protect “front line services” in the NHS.
…and there already seems to be an epidemic water shortage in UK Hospitals.
…and a shortage of resources in general.
Obamacare supporters should celebrate while they still don’t know what’s in the bill.