Friday, March 19, 2010

The Jobs Killer

According to the Washington Examiner, the folks at Caterpillar, the worlds largest manufacturer of construction equipment, have this to say about Obamacare.

Obamacare will take a huge chunk out of the American economy, so says Caterpillar, Inc., which said in a letter to House leadership that the bill under consideration would increase the company's health care costs by more than $100 million in the first year alone

Well yeah, but they are a big company. They can absorb that cost, right?

The Peoria-based company is one of many hard-hit employers in Illinois, which has an unemployment rate of 12.2 percent. It's delusional to think that adding $100 million to their operating costs won't make it more difficult to hire. In fact, this is exactly what 130 economists said in their letter to President Obama yesterday saying that the bill was unquestionably a job killer.

Do you think Washington could be wrong about the impact and real cost of Obamacare?

[Hat Tip: Lyndsi Thomas]
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