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How come Obama's Job Czar even admits ObamaCare is a dismal failure and hurts business? - AmazingBandit566 - 04-27-2014 10:50 PM
Waking Up: General Electric CEO Jeffrey Immelt has had an epiphany about the awfulness of ObamaCare, if not of the president himself. Ironically, the company behind the incandescent bulb finally sees the light.
GE's health care division hasn't been doing too well lately, and the company has a very good reason: ObamaCare.
On Wednesday, Immelt, who has served as an economic adviser to President Obama, suggests that the president's signature health care program has had a nasty impact on GE's bottom line.
"I think there's still a lot of uncertainty in health care, and we'll just have to see that over time," Immelt said in remarks to shareholders on Wednesday.
GE Chief Financial Officer Jeffrey Bornstein was more specific and less circumspect in his comments: "Hospitals and clinics appear to be delaying purchases and responses to the ACA (Affordable Care Act)."
Translation: A bad law that put big government in control of roughly 17% of our economy is costing a company that was a major supporter and cheerleader for Obama a whole lot of money.
Read More At Investor's Business Daily: http://news.investors.com/ibd-editorials/042514-698552-ge-cozy-ties-with-obama-not-exactly-helping-the-bottom-line.htm#ixzz300RE0a2l
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- Westward Wind - 04-27-2014 10:56 PM
Don't bother lemming Democrats with facts. It hurts their heads.
- mustagme - 04-27-2014 11:01 PM
The only ones who still are not seeing this disaster is liberals. Our businesses are crumbling under the weight of Obamacare. The system is going to collapse under it's own weight.
- Chewy Ivan 2 - 04-27-2014 11:06 PM
He doesn't. He just says that current uncertainty over what exactly the law means is holding up purchasing of medical equipment that GE makes. It will get better over time after hospitals and medical clinics figure out exactly what their new obligations are under the health care law. In fact, purchasing of new equipment will likely increase more than before Obamacare since hospitals and clinics will see increased revenues from more of the patients they treat actually having medical coverage.
GE should have no problem staying profitable while hospitals and clinics sort things out. They make a lot of money and exploit a lot of tax loopholes.
- Karamazov - 04-27-2014 11:08 PM
It does. But certainly not the insurance industry's.
- tribeca_belle - 04-27-2014 11:16 PM
Immelt was referring to GE’s Medical Division and the fact that delays in purchasing due to uncertainty about the ACA were hurting GE’s bottom line. He didn't say anything about Obamacare being a failure.
Don’t worry too much about it. When the various entities start purchasing, GE will do just fine. I’m sure Immelt appreciates your concern about GE’s profits.
- LKJH - 04-27-2014 11:25 PM
You watching FOX LIES this early? Case closed. It won't be repealed Lurleen Suzie.
- Not An Obama Fan! - 04-27-2014 11:33 PM
I thought the GE puppet quit the Obama team. Something to
do with the fact Bull Snot wasn't tasting so good anymore.
Plus the fact his Contemporary's were making really way to
much fun of him.