Wednesday, April 14, 2010

Waxman Backpedals on Calling CEO's on the Carpet for Divulging Obamacare Costs

House Energy and Commerce Committee Chairman Henry Waxman (D-Calif) got his 'panties in a wad' because several large companies re-stated their bottom lines and announced Obamacare would cost them hundreds of millions of dollars this year. Waxman announced he was calling these companies CEO's on the carpet to explain why they did this. He is now backpedaling and canceling his planned subcommittee hearing.
A House Energy and Commerce Committee spokeswoman tells me that Chairman Henry Waxman, D-Calif., has indeed cancelled the April 21 subcommittee hearing in which CEOs were to testify about Obamacare.

Hmmm... Perhaps he realized these companies have a fiduciary responsibility to keep their shareholders informed.
The CEOs, required by law to be honest about earnings projections, re-stated their bottom lines in reaction to Obamacare's passage, earning the ire of Waxman and other Democrats.

Hearings on this matter would likely have proved an embarrassment to the Democrats and helped drag out discussion of Obamacare's unexpected ill effects.

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