Healthcare, the Administration, and Economics

Several companies have to take multi-million dollar charges against earnings to account for provisions in the new health care bill. What is the Administration’s response: “You Republican CEO’s are trying to embarrass us.” No, Mr. Obama, that is called accounting and it is required by law.

My CEO sat with the President over lunch with two other CEOs, and each of them tried to explain to the President what this bill would do to our companies and the economy in general. First the President didn’t understand what they were talking about. Then he basically told my boss he was lying. Frankly my boss was embarrassed for him; he clearly had not been briefed and didn’t know what was in the bill.

Ouch! Painful truth there.

Neither Waxman or Stupak — who betrayed the pro-life community by negotiating for more than a week with the White House to ensure his vote on the health care bill — had anything more than a cursory understanding of how the many sections of the bill would impact business or even individual citizens before they voted on the bill, says House Energy Democrat staff. “We had memos on these issues, but none of our people, we think, looked at them,” says a staffer. “When they saw the stories last week about the charges some of the companies were taking, they were genuinely surprised and assumed that the companies were just doing this to embarrass them. They really believed this bill would immediately lower costs. They just didn’t understand what they were voting on.

What to say about such nitwittery?
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