H/T The Wall Street Journal: The ObamaCare Writedowns—II Democrats blame a vast CEO conspiracy.
How long will it be before the pattern of policies and actions which appear designed to tear down America, to reduce it to instability and economic torpor, are recognized as such by someone other than We The People?
If The United States Government has decided to Unconstitutionally operate under a "living and breathing" US Constitution, should they not at least inform everyone that the 1st Ammendment has breathed its last so we can properly memorialize so it can Rest In Peace?
From the WSJ Article:
So the wave of corporate writedowns—led by AT&T's $1 billion—isn't caused by ObamaCare after all. The White House claims CEOs are reducing the value of their companies and returns for shareholders merely out of political pique.
A White House staffer told the American Spectator that "These are Republican CEOs who are trying to embarrass the President and Democrats in general. Where do you hear about this stuff? The Wall Street Journal editorial page and conservative Web sites. No one else picked up on this but you guys. It's BS." (We called the White House for elaboration but got no response.)
In other words, CEOs who must abide by U.S. accounting laws under pain of SEC sanction, and who warned about such writedowns for months, are merely trying to ruin President Obama's moment of glory. Sure.
Meanwhile, Democrats have responded to these writedowns not by rethinking their policy blunder but by hauling the CEOs before Congress on April 21 for an intimidation session. The letter demanding their attendance from House barons Henry Waxman and Bart Stupak declared that "The new law is designed to expand coverage and bring down costs, so your assertions are a matter of concern."
Perhaps Mr. Waxman should move his hearing to the Syracuse Carrier Dome. The Towers Watson consulting firm estimates that the total writeoffs will be as much as $14 billion, and the 3,500 businesses that offer retiree drug benefits are by law required to report and expense their losses this quarter or next. But 'twas a famous victory, ObamaCare.
Do you own a small business? Michelle Malkin is calling for those of you who have enough liquidity left to rally in support of whatever self-determination may be left by standing against this Capitol Hill Witch Hunt.
It seems to me that the chronic latent sense of narcissism on Capitol Hill has finally combined with an orgy of intoxication of power to present the United States with a potentially lethal cocktail. Any pretense of representation and service, those apparently quaint concepts outlined in the Constitution before it went into its latest Leftist Hypervenitilation, has been thrown aside in what looks like a totalitarian-inspired urination contest on the part of our Legislators Formerly Known As Public Servants.
/rant off
.jpg)
