Wednesday, March 31, 2010
Obama clears way for oil drilling off US coasts
Tuesday, March 30, 2010
Prudential Takes $100 Million Hit on Health-Care Overhaul - FOXBusiness.com
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$1 Billion AT&T Headache is Just Obamacare's First Side Effect
In the closing days of the Congressional health care debate, House Speaker Nancy Pelosi (D-CA) told the National Association of Counties: "We have to pass the bill so that you can find out what is in it." Today marks the end of just the first week of life under Obamacare and Speaker Pelosi has been proven right: we are just now finding out what is in it. This past Friday, AT&T, the biggest U.S. telephone company, announced that it would take a $1 billion charge against earnings thanks to tax changes buried in the 2,300+ page bill. $1 billion. That is a full third of AT&T's $3 billion earnings for the fourth quarter of 2009.
The tax charges stem from changes Obamacare makes to the tax treatment of prescription-drug benefits for retirees. Companies used to be able to deduct part of their costs for providing drug benefits to their retirees, but Obamacare cancels that deduction. Roland McDevitt, director of health care research at Towers Watson, tells the Wall Street Journal, they "have a stream of tax benefits they are losing way out in the future." Since companies had counted on these deductions for current and future retirees as an existing asset under the old law, accounting rules require firms to take the full loss for the change in the same quarter in which the tax law is changed. Hence Friday's announcement to inform shareholders that AT&T's bottom line was about to take a $1 billion hit.
AT&T's billion-dollar Obamacare headache is so large due to the size (281,000 employees) of the company. Piper Jaffray & Co. analyst Chris Larsen tells Bloomberg: "Companies like AT&T, that have large employee bases, are going to have higher health-care costs and, therefore, lower earnings unless they can negotiate something or offer less to their employees." And changes to current and future retirees' health care seem to be exactly what will AT&T will do as a side effect of Obamacare. AT&T wrote in their Friday filing: "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."
And AT&T is not alone. Towers Watson estimates that just this tax change alone will eliminate $14 billion in U.S. corporate profits. That's $14 billion less American employers have to spend creating new jobs when our unemployment rate is still 9.7%. And AT&T is not the only company informing employees that Obamacare is going to mean worse care for them. Verizon Communications, the second biggest U.S. phone company, told employees last week that Obamacare "may have significant implications for both retirees and employers."
The Heritage Foundation will be keeping you apprised of all of the consequences of Obamacare as they are learned with our new Foundry feature "Side Effects." Already our health care experts have identified negative intended and unintended consequences from the legislation to children's health insurance and health insurance taxes.
The American people already do not like this law. But to repeal it, we must keep Americans educated about all of Obamacare's failures and offer our “Second Opinion” on what conservative idea would fix it.
My Prediction is that Obama being even more arrogant after the health-care win will be moving quickly to get more of his Socialist/Big Government agenda passed as soon as Congress gets back....It will be Immigration, Financial Reform, and Cap and Trade on his agenda.....then late this year the Deficit Reduction Committee will come back and recommend more taxes and this time on the middle class and he will use that as cover to propose a VAT Tax...or Federal Sales Tax...just like Europe has....and then we can begin to pay $3 for a soda like Europe does.....Beware it's coming!!!
Today in the Wall Street Journal there is article that predicts that the Government will NOT be able to the $1.2 Trillion it says it needs for healthcare out of the additional taxes imposed on the Wealthy...........so the only alternative is go to a VAT Tax/Federal Sales Tax which would impact ALL AMERICANS!
Barack Obama struggles to capitalize in polls - Josh Gerstein - POLITICO.com
We have GOT TO EFFECT A CHANGE starting this November! We cannot afford to continue to spend, spend, spend....AND we need to clean up the way Government works...The current Chicago Style Mob Politics that Obama play is NOT WHAT HE PROMISED As Change!
FOXNews.com - Pro-Life Democrats Who Switched Vote for Health Bill Request Billions in Earmarks
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Monday, March 29, 2010
Below is this morning's Heritage Foundation article....
"Our Long National Obamacare Nightmare is Just Beginning
If you are tired of our nation's year-long health care debate and you were hoping that the passage of President Barack Obama's health care bill would settle anything, then Politico has some bad news for you: the real fight is just getting started. Starting today, a coalition of leftist groups will sink millions of dollars into television advertising and astroturf events selling the plan to the American people. But as a Washington Post poll conducted after passage last week shows, the Obama administration and their leftist allies face a steep climb.
The top line numbers are bad but not daunting for the pro-Obamacare forces: 50% of Americans oppose the changes in the new law while 46% support them. But the numbers also show that most Americans believe the new law will cause "the overall health care system in this country" to get worse, "the quality of the health care you receive" to get worse, and "your health insurance coverage" to get worse. The poll also shows that most Americans believe the law will weaken Medicare and that there is "too much government involvement in the nation's health care system." And strong majorities of Americans believe Obamacare will increase the federal budget deficit (65%), increase "your health care costs" (55%), and increase "overall costs of health care in this country" (60%). The American people are right on all counts. And if the events of last week are any indication, these beliefs will only harden over time.
Pitching his failed stimulus plan back in February of last year, President Obama told a factory in East Peoria, Illinois, "So what's happening at this company tells us a larger story about what's happening with our nation's economy, because, in many ways, you can measure America's bottom line by looking at Caterpillar's bottom line." well, Caterpillar was quick to inform the markets exactly what Obamacare meant for its bottom line. Caterpillar announced that Obamacare would raise its insurance costs by at least 20 percent - or more than $100 million - just in the first year of the health-care overhaul program. And Caterpillar was not alone. Other Fortune 500 firms quickly followed suit announcing Obamacare hits to their bottom line including: Deere & Co., $150 million; AK Steel, $31 million; 3M, $90 million; Valero Energy, $20 million; and AT&T, $1 billion. The consulting firm Towers Watson tells the Wall Street Journal that the total hit this year will reach nearly $14 billion. America's employers simply can't sustain losses like these, so many of these companies, including Verizon, have informed their employees to expect significant changes to their current health care benefits.
The leftist majorities in Congress were incensed that America's employers would dare warn their investors about the costs of Obamacare at the same time as the Obama administration's national sales pitch was set to begin. So using the full force of the federal government to bully and harass America's job creators, House Energy and Commerce Committee Chairman Henry Waxman (D-CA) sent letters to the CEOs of Deere, Caterpillar, Verizon, and AT&T demanding all documents "from January 1, 2009, through the present" regarding "any analyses related to the projected impact of health care reform" and "any documents, including e-mail messages, sent to or prepared or reviewed by senior company officials related to the projected impact of health care reform." Waxman intends to haul these CEOs in front of the Subcommitte on Oversight and Investigations, which just happens to be chaired by Rep. Bart Stupak (D-MI), for a hearing April 21st.
While it is unfortunate that the left in Congress believes our nation's business leaders' time is best spent being browbeaten by congressmen for not doing more to support their policy preferences, the American public should look forward to these hearings. The more information the American public is given about Obamacare, the more they will oppose it. The more they oppose it, the easier it will be to repeal it. We have a long road ahead of us, but eventually the Obamacare nightmare will end."
WE CANNOT LET OURSELVES FORGET WHAT DIRE CONSEQUENCES THIS BILL AND THE REST OF THE SOCIALIST AGENDA WILL HAVE FOR AMERICA...AND WE HAVE TO KEEP FOCUSED ON THE ARROGANT WAY THIS DEMOCRATIC CONGRESS AND ADMINISTRATION IS CONDUCTING ITSELF. NOVEMBER ELECTIONS ARE COMING....ONLY 217 DAYS TIL ELECTIONS DAY AND WE CAN START TO VOTE THE DEMOCRATS AND LIBERAL REPUBLICANS OUT OF OFFICE.
Friday, March 26, 2010
Surpise, Surprise...Healthcare Benefits will be Cut and Americans May NOT be able to keep the same provider
FOXNews.com - AT&T Joins Growing List of Firms That Say Health Care Law Will Cut Into Their Profits
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BE CAREFUL HOW YOU VOTE IN NOVEMBER 2010....!!!!
"THE ANT AND THE GRASSHOPPER"
Two Different Versions..................
Two Different Morals ...................
The ant works hard in the withering heat all summer long, building
his house and laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances
and plays the summer away..
Come winter, the ant is warm and well fed.
The grasshopper has no food or shelter, so he dies out in the
MORAL OF THE STORY:
Be responsible for yourself!
The ant works hard in the withering heat and the rain all summer
long, building his house and laying up supplies for the winter.
The grasshopper thinks the ant is a fool and laughs and dances
and plays the summer away.
Come winter, the shivering grasshopper calls a press
conference and demands to know why the ant should be allowed to be warm
and well fed while he is cold and starving.
CBS, NBC , PBS, CNN, and ABC show up to provide pictures of the
shivering grasshopper next to a video of the ant in his
comfortable home with a table filled with food.
America is stunned by the sharp contrast.
How can this be, that in a country of such wealth, this poor
grasshopper is allowed to suffer so?
Kermit the Frog appears on Oprah with the grasshopper and
everybody cries when they sing, 'It's Not Easy Being Green.'
Acorn stages a demonstration in front of the ant's house where
the news stations film the group singing, 'We shall overcome.'
Rev. Jeremiah Wright then has the group kneel down to pray
to God for the grasshopper's sake."
President Obama condemns the ant and blames President Bush,
President Reagan, Christopher Columbus and the Pope for the
Nancy Pelosi & Harry Reid exclaim in an interview with Larry King that
the ant has gotten rich off the back of the grasshopper,
and both call for an immediate tax hike on the ant to make
him pay his fair share.
Finally, the EEOC drafts the Economic Equity &
Anti-Grasshopper Act retroactive to the beginning of the summer.
The ant is fined for failing to hire a proportionate number of
green bugs and having nothing left to pay his retroactive
taxes, his home is confiscated by the Government Green Czar and
given to the grasshopper.
The story ends as we see the grasshopper and his free-loading
friends finishing up the last bits of the ant's food while the
government house he is in, which, as you recall, just happens to
be the ant's old house, crumbles around them because the
grasshopper doesn't maintain it.
The ant has disappeared in the snow, never to be seen again.
The grasshopper is found dead in a drug related incident, and the
house, now abandoned, is taken over by a gang of spiders who
terrorize the ramshackled, once prosperous and one peaceful,
The entire Nation collapses bringing the rest of the free world with it.
MORAL OF THE STORYBE CAREFUL HOW YOU VOTE IN NOVEMBER 2010
Charles Krauthammer : The Vat Cometh - Townhall.com
YouTube - We The People
This Blog is being created to outline the common sense reasons why Americans need to reject Barak Obama and Democrats when they run for reelection! In November of 2010 it's to vote out the Democrats in the House and those up for reelection in the Senate....In November of 2012 it's the Congressional Democrats up for reelection and Obama and Biden. Obama's agenda and policies are taking away the uniqueness of America and the Freedoms that we have been afforded under the Constitution of the United States.
His promise to bring "Change" to Washington during his 2008 Presidential Campaign has manifested itself into -
* A Huge Social Justice/Socialist Agenda that has given us an insurmountable Debt/Deficit
* Much Bigger Government, More Entitlements that we simply cannot afford
* Government Takeover of American Industries (Auto, Banking, Student Aid, etc)
* Massive Government Takeover of American Health care
* A real move to Redistribute the Wealth in America
* And more regulations in every aspect of our lives.
In addition to that Mr Obama has not effectively addressed the problems with the economy.
* Unemployment is still close to 10% and the jobs that were created were largely in Government jobs NOT in private industry
* The Obama stimulus bill has wasted billions of dollars on projects that are not needed and do not improve the economy going forward
* Obama has demonized capitalism and many American Industries, and created so much uncertainty that private industry no longer knows what to expect in the future.
Obama promised much in his campaign in 2008 and has repeatedly broken those promises
* Promised Transparency, but has run his administration almost totally behind closed doors
* Promised Honesty and continues to bend the truth and often outright lies to the American People. (ie remember the SOTU address when he said Jobs would the #1 priority in 2010)
* He often acts in direct contradiction to the will of the American People (ie health care). His agenda is more important than the will of the American People
* His administration is the most corrupt, deceptive, arrogant, insincere and liberal of all time despite his campaigning as a centrist.
* Obama continues to associate with/be advised by/nominate radicals. (ie Reverend Wallis)
* The Obama Apology tour across the world where he has apologized for America
This President is transforming this nation into a Western European/Socialist Nation. That was NOT his promise when we campaigned and was elected in 2008. His Agenda will change the face of America forever if he is not voted out of office. Our first Opportunity is November of 2010 where we can vote to change the leadership and face in both the House and the Senate......When we get that control back we will be able to begin to impact Obama's agenda by impacting funding. Then in November of 2012 the focus has to be on more Democrats and squarely on Obama....WE CANNOT ALLOW HIM TO BE REELECTED!