PDA

View Full Version : ObamaCare Writedowns



M&K's Retrievers
03-27-2010, 01:20 PM
According to a 3/27/10 article in the WSJ "The ObamaCare Writedowns", consulting firm Towers Watson estimate the total writedown this year will be $14 Billion including:

AT&T $1 Billion
Deere & Co. $150 Million
Caterpillar $100 Million
AK Steel $31 Million
3M $90 Million
Valero Energy $20 Million

Wonder who's going to pay for this and how many jobs will be lost? Ain't it great?

ObamaCare blows regards,

YardleyLabs
03-27-2010, 01:26 PM
According to a 3/27/10 article in the WSJ "The ObamaCare Writedowns", consulting firm Towers Watson estimate the total writedown this year will be $14 Billion including:

AT&T $1 Billion
Deere & Co. $150 Million
Caterpillar $100 Million
AK Steel $31 Million
3M $90 Million
Valero Energy $20 Million

Wonder who's going to pay for this and how many jobs will be lost? Ain't it great?

ObamaCare blows regards,

So you prefer to have taxpayers continue to subsidize these companies and the levels set by Bush as opposed to subsidizing them ar 2/3 the level set by Bush?

M&K's Retrievers
03-27-2010, 01:54 PM
So you prefer to have taxpayers continue to subsidize these companies and the levels set by Bush as opposed to subsidizing them ar 2/3 the level set by Bush?

I would rather the taxpayers subsidize the creation/continuation of jobs and products and services than create national health care which will ruin the best health care available in the world. Pretty simple concept really. Maybe it's not long winded enough.:rolleyes:

YardleyLabs
03-27-2010, 01:57 PM
I would rather the taxpayers subsidize the creation/continuation of jobs and products and services than create national health care which will ruin the best health care available in the world. Pretty simple concept really. Maybe it's not long winded enough.:rolleyes:
But what we are subsidizing are retiree benefits that are not enjoyed across all companies, not current employment.

M&K's Retrievers
03-27-2010, 02:14 PM
But what we are subsidizing are retiree benefits that are not enjoyed across all companies, not current employment.

I'm not a fan of retiree benefits but the writedowns will have an affect on current and future productivity and required job reductions to offset losses.

YardleyLabs
03-27-2010, 02:18 PM
I'm not a fan of retiree benefits but the writedowns will have an affect on current and future productivity and required job reductions to offset losses.
You are assuming they will ever happen. The amounts cited are the value of Federal subsidies expected to be lost. Those companies may still end up increasing in value. In addition, the money was never their to begin with. It belongs to the public. I love the double standard of yelling about socialism when the government spends money on something new and crying about robbery when the government cuts an existing program. Talk about "entitlement" mentality.

M&K's Retrievers
03-27-2010, 07:53 PM
You are assuming they will ever happen. The amounts cited are the value of Federal subsidies expected to be lost. Those companies may still end up increasing in value. In addition, the money was never their to begin with. It belongs to the public. I love the double standard of yelling about socialism when the government spends money on something new and crying about robbery when the government cuts an existing program. Talk about "entitlement" mentality.

Maybe you can 'splain it to me.

menmon
03-31-2010, 11:03 AM
You are assuming they will ever happen. The amounts cited are the value of Federal subsidies expected to be lost. Those companies may still end up increasing in value. In addition, the money was never their to begin with. It belongs to the public. I love the double standard of yelling about socialism when the government spends money on something new and crying about robbery when the government cuts an existing program. Talk about "entitlement" mentality.

I can not agree more. I have nothing material to add. I think you have put the hammer on the nail here.

paul young
03-31-2010, 12:26 PM
Maybe you can 'splain it to me.

i think he just did......

and you never answered his question. how OBAMA-LIKE!-Paul

Buzz
03-31-2010, 01:17 PM
I love the double standard of yelling about socialism when the government spends money on something new and crying about robbery when the government cuts an existing program. Talk about "entitlement" mentality.


What gets me is all the complaining about subsidies for individuals to purchase their own coverage, while defending the government subsidizing corporations to purchase drug coverage for retirees AND additionally allowing them to take a tax deduction for a subsidy that they receive.

we all live in hypocrisyville zone now...

badbullgator
03-31-2010, 01:29 PM
What gets me is all the complaining about subsidies for individuals to purchase their own coverage, while defending the government subsidizing corporations to purchase drug coverage for retirees AND additionally allowing them to take a tax deduction for a subsidy that they receive.

we all live in hypocrisyville zone now...

I think the difference is one is talking about something that, like it or not is already in palce, and the other is a whole new set of them;-)
They wat I understand these is that they are given to these companies to keep them from dumping people on to medicare prescription coverage and cost far more than the subsidies. While I may not like a company getting them I would rather in this case they keep them instead of increasing the cost to us the taxpayers

badbullgator
03-31-2010, 02:04 PM
On a similar subject

http://www.news-press.com/article/20100331/OPINION/100330083/Craig-Sweet-Medicare-reductions-pose-an-immediate-threat-to-our-patients

YardleyLabs
03-31-2010, 02:10 PM
On a similar subject

http://www.news-press.com/article/20100331/OPINION/100330083/Craig-Sweet-Medicare-reductions-pose-an-immediate-threat-to-our-patients
Well, the Republicans filibustered the Democrat sponsored bill to prevent the legally mandated reductions in fees. The health care bill did nothing to make the situation better or worse. Maybe the Republicans can now reintroduce the bill they blocked before. After all, it was the same as the bills that Republicans introduced every year before they decided to block a Democratic bill that did the same thing.

EDIT: Personally I think the 1998 law that called for automatic fee reductions should be repealed. However, that repeal should also address funding the $20-30 billion/year cost of doing that. Enough of approving spending without creating a revenue source to pay the cost.

badbullgator
03-31-2010, 02:16 PM
Well, the Republicans filibustered the Democrat sponsored bill to prevent the legally mandated reductions in fees. The health care bill did nothing to make the situation better or worse. Maybe the Republicans can now reintroduce the bill they blocked before. After all, it was the same as the bills that Republicans introduced every year before they decided to block a Democratic bill that did the same thing.

EDIT: Personally I think the 1998 law that called for automatic fee reductions should be repealed. However, that repeal should also address funding the $20-30 billion/year cost of doing that. Enough of approving spending without creating a revenue source to pay the cost.


OF course they did Jeff:rolleyes:
don't think you wil find much argument about funding anything, of course i did not read that from you as heathcare was being passed....oh wait you buy that healthcare will put us into the black......
More to the point this is very real, and very now. People WILL lose jobs over this and people will have fewer doctors. Spin it any way you want to, I live with it everyday and this does not make things better for anyone

YardleyLabs
03-31-2010, 02:32 PM
OF course they did Jeff:rolleyes:
don't think you wil find much argument about funding anything, of course i did not read that from you as heathcare was being passed....oh wait you buy that healthcare will put us into the black......
More to the point this is very real, and very now. People WILL lose jobs over this and people will have fewer doctors. Spin it any way you want to, I live with it everyday and this does not make things better for anyone
I assume your first sentence was not disagreeing that Republicans blocked the physician fee fix, but only recognizing that they did it in the hope that it would help them defeat the health bill.

I suspect that we will see an effort to fix the problem for just one more year, to keep the cost down, and that it will be treated as an emergency bill with no funding, requiring a super majority for passage. The question is whether it will be done by Democrats or bilaterally, and whether or not efforts will be made to delay passage by Republicans to keep up the overall health care debate. If I were a Democrat in Congress, I would not propose any fix that did not have Republican support and co-sponsorship even if that results in implementation of the mandated cuts.

badbullgator
03-31-2010, 03:15 PM
I assume your first sentence was not disagreeing that Republicans blocked the physician fee fix, but only recognizing that they did it in the hope that it would help them defeat the health bill.

I suspect that we will see an effort to fix the problem for just one more year, to keep the cost down, and that it will be treated as an emergency bill with no funding, requiring a super majority for passage. The question is whether it will be done by Democrats or bilaterally, and whether or not efforts will be made to delay passage by Republicans to keep up the overall health care debate. If I were a Democrat in Congress, I would not propose any fix that did not have Republican support and co-sponsorship even if that results in implementation of the mandated cuts.


I guess the big question is how they try to pass it....or what they try to tie it too

YardleyLabs
03-31-2010, 03:19 PM
I guess the big question is how they try to pass it....or what they try to tie it too
Who is "they". The Democrats introduced the last bill. Let the Republicans introduce this one.;-)

badbullgator
03-31-2010, 03:22 PM
They is who ever puts it out there Jeff. I know you have to have us vs them, but I don't care one way or the other a bad bill is a bad bill regardless of where it comes from

YardleyLabs
03-31-2010, 03:34 PM
They is who ever puts it out there Jeff. I know you have to have us vs them, but I don't care one way or the other a bad bill is a bad bill regardless of where it comes from
Fair enough.

M&K's Retrievers
03-31-2010, 09:42 PM
...
and you never answered his question. how OBAMA-LIKE!-Paul

what question?