I know, Obama has said that there would be no "material" impact to finances until 2014.
Liar.
Truth: Caterpillar and John Deere already announced non-cash charges of $100 and $150 million, respectively, for this year based upon the impact of this bill on forward retiree health care costs.
But today a 100-kiloton device landed on AT&T's (NYSE: T) balance sheet - they announced a one billion dollar non-cash charge.
Now tell me you think that these companies are going to pay this out of the kindness of their hearts and their own pockets and to hell with the shareholders??? Or are they going to pass this along as higher consumer costs?
Yes, you are going to have your healthcare but you cost-of-living is accompanied by a giant flushing sound.
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