Obamacare Destroys 10 Million Jobs

10 million jobs, this year. Next year will be more. AT&T alone has written of $1 BILLIOIN in assets. For starters only, Caterpillar (Obama’s pal Jim) has written of $100 MILLION – that’s for starters. Maybe it’s really $100 million PER QUARTER at Caterpillar.

Obama said in January that he was focused on creating jobs for Americans.

Obama is focused on creating jobs for unemployment clerks and tax collectors in Washington, D.C.

American corporations, large and small, are DOWNSIZING (writing off assets) TODAY to pay Obama for future medical services. (For “progressives” who may be reading: You should enact a law REQUIRING corporations to hire more Americans diverse workers. Then you could get unemployment up to 50%, like in Detroit, your model economy).

There is only one small problem: there will be extremely limited medical services available in these United States, similar to Canada, following Obama’s actual efforts in the first quarter of 2010.

It doesn’t matter how bad the medical services are. There is no mechanism (free market capitalism made American health care the finest in the world) except Obama’s death panels engaged to improve medical care any longer in the United States. Obama will collect the cash anyway, though.

Obama has destroyed utterly the finest health care system in the world; and he wants you to pay him for doing so. Obama thinks government revenue will grow even while unemployment increases. Obama’s plan is based upon this concept.

WASHINGTON (MarketWatch) — AT&T on Friday said it will record a $1 billion non-cash expense in the first quarter related to the newly passed health-care law, joining a growing list of large U.S. companies.

The AT&T /quotes/comstock/13*!t/quotes/nls/t (T 26.24, +0.09, +0.34%) write-down is the largest reported so far. Caterpillar /quotes/comstock/13*!cat/quotes/nls/cat (CAT 62.44, +0.30, +0.48%) this week recorded a $100 million charge in the first quarter and Deere & Co. /quotes/comstock/13*!de/quotes/nls/de (DE 60.56, +0.36, +0.60%) said it will report a one-time $150 million expense. See previous story on industries that say warn health reform will cost them.

Among its many changes, the new health-care law eliminated a tax deduction that companies used to cut the cost of drug-benefit programs for retired workers. President Obama signed the massive health-care overhaul into law earlier this week in a big victory for ruling Democrats.

Yet companies that still offer retiree drug benefits, mostly older industrial concerns or those with unionized employees, say the end of the deduction could force them to alter their benefit plans. In other words, they might curtail or even cancel them.

“As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health care benefits offered by the company,” AT&T said in a filing with the government on Friday.


One Response

  1. Well said. Once this is all through, there will be a lot more people dependent on the government, being unemployed and all. Just the way they like it.

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