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Thursday, March 25, 2010

"ObamaCare Day One" Points Out "Destruction" ObamaCare Will Bring - WSJ

The Wall Street Journal today has an opinion piece called, "ObamaCare Day One." It sets forth some of the negative impact of ObamaCare that is already beginning to surface:

"Caterpillar said it would cost the company at least $100 million more in the first year alone."

"Medical device maker Medtronic warned that new taxes on its products could force it to lay off a thousand workers."

Now Verizon joins the roll of businesses staring at adverse consequences. In an email titled "President Obama Signs Health Care Legislation" sent to all employees Tuesday night, the telecom giant warned that "we expect that Verizon's costs will increase in the short term." While executive vice president for human resources Marc Reed wrote that "it is difficult at this point to gauge the precise impact of this legislation," and that ObamaCare does reflect some of the company's policy priorities, the message to workers was clear: Expect changes for the worse to your health benefits as the direct result of this bill, and maybe as soon as this year. . . MORE
The Journal's piece concludes with this ominous statement:
Businesses around the country are making the same calculations as Verizon and no doubt sending out similar messages. It's only a small measure of the destruction that will be churned out by the rewrite of health, tax, labor and welfare laws that is ObamaCare, and only the vanguard of much worse to come. . . MORE


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