During the debate over ObamaCare, Democrats countered opposition to the bill by saying that, once it became law, it would become more popular. Echoing that theme, Speaker Nancy Pelosi stated they "had to pass this bill, so you can see what's in it".
Well, now that it is law, some unpleasant surprises are cropping up.
Over the course of the last few days, major corporations have announced that they will be facing multi-million dollar losses as a result of the bill. They have made these announcements as part of disclosures required by the Securities and Exchange Commission because they're publicly traded companies. But, that hasn't made Democrats happy. On Tuesday, Democrat Henry Waxman, Chairman of the House Energy and Commerce Committee, issued letters to those firms demanding they come to his committee and explain themselves.
Democratic Rep. Henry Waxman, chairman of the House Energy and
Commerce Committee, on Friday fired off letters to the heads of
Caterpillar, Verizon, AT&T and Deere after they and other firms
reported that the health care overhaul would dig deep into their bottom
Caterpillar claimed it would raise costs by $100 million in the
first year and imperil coverage for its 150,000 employees and retirees.
Deere estimated it would raise expenses by $150 million.