Company write-downs in the wake of health care reform are coming fast and furious. AT&T announced $1 billion, John Deere and Boeing are in for $150 million each. A White House aide claims it’s a political statement by “Republican CEOs.” As the Wall Street Journal sarcastically notes, yes, these CEOs are willing to destroy shareholder value simply for spite.
It’s a ridiculous assertion made by an increasing ridiculous administration desperate to draw attention from the bill’s real faults. Higher costs and job losses? Partisan smears. Hidden taxes and punitive fines? Tea Party crazies.