published Monday, February 7th, 2011

Latest ObamaCare job losses

President Barack Obama bristles at suggestions that ObamaCare's costs and regulations will destroy jobs. He recently told supporters of the law that concerns about job losses have been proved untrue.

That is an odd claim to make, since many of its biggest provisions have not been enacted yet.

But even in its early stages, Obama-Care's job-killing potential is already being realized.

Abbott Laboratories, which makes drugs and medical devices, recently said it plans to eliminate nearly 2,000 manufacturing and marketing jobs.

In the words of The Associated Press, "Abbott blamed the cuts on new fees and pricing pressures associated with the health reform law and a 'challenging regulatory environment' at the Food and Drug Administration."

Specifically, ObamaCare forced Abbott to shell out $200 million last year in higher Medicaid rebates.

"That will continue in 2011 and the company expects to pay an additional $200 million for the drugmaker-tax and discounts the law requires for patients on Medicare," Bloomberg News noted.

In other words, the company may only be beginning its ObamaCare-related job cuts.

Abbott isn't alone, either. Medtronic, a maker of medical devices, predicted it will cut 1,000 jobs to cover a new ObamaCare tax on medical devices. And soon after ObamaCare was signed into law, major companies such as AT&T, John Deere and Caterpillar noted the hundreds of millions of dollars in new costs the law would impose on them. Who can doubt that those costs will force the companies to lay off employees, or that at a minimum they will be unable to hire new workers?

It is highly questionable whether ObamaCare will improve medical care for most Americans. But sadly, it has already been demonstrated that it will kill jobs. That is the last thing the United States needs in a time of high unemployment.

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jpo3136 said...

It's inaccurate and offensive to mislead the public into thinking the name of these laws is "ObamaCare."

Every sentence in the editorial was obviously wrong. You don't actually believe this stuff, do you?

Are we really to shed a tear for these multi-billion dollar corporations as you blame President Obama?

Abbott Industries has over 72,000 employees and operates in 130 countries. They make everything from AIDS drugs to high-fructose corn syrup "health" drinks like Ensure.

Which of the 72,000 jobs in 130 countries do you think can be blamed on President Obama? Please specify.

Medtronic, cited above as cutting 1,000 jobs "over Obamacare" is the world's largest medical technology company. The company employs between 41,000 and 38,000 people. They have at least 50 facilities; they serve customers in 120 countries.

Which what of theirs was lost because of President Obama?

Among their achievements, and a part of their revenue stream, implantable pacemakers. At 14.5 billion dollars in worth, it's unlikely that we can rationally blame President Obama for their losses of anything.

Please, try to construct an argument that would logically assert anything. If possible, try to cite causes other than Republican Mitt Romney's health care payment reform plan. Maybe try to state anything without blaming President Obama.

One moment while I weep a tear for Big Pharma and these other Standard and Poor's 500 companies worth billions. Sniff. Okay, done.

RomneyCare. Not always President Obama's fault. Your two new talking points.

February 7, 2011 at 2:18 a.m.
Livn4life said...

Okay jpo, go after big, evil, rich businesses. They are always the ones to blame. This healthcare whatever it be called will only bring a larger burden to "rich" taxpayers. That "rich" suddenly gets moved so far down that the ones shouldering the bulk is the middle class. But as is always the case with the perspective of those who come up with these bright ideas, they claim it'll slam the rich. I have to laugh. Finally, it has been the current President who engaged in pushing and slamming this monstrosity of a costly program down the throats of many Americans who voted for him but are not for this action at a terrible time for our economy. So it is not too much of a stretch to use the term Obamacare. I believe if it stays as it currently is, we will soon find what a huge mistake it was and how quickly our unaccountable and out of control federal government will take us further downward economically. Saddest of all is the fact that it does not seem to matter which party is in the White House, or calling shots in Congress. It is what it is.

February 7, 2011 at 4:40 a.m.
jpo3136 said...

I'm not going after big businesses. The editorial proposes to tell us that the loss of 1 employees in 40, at multi-billion dollar corporations who employ tens of thousands of workers, worldwide, is somehow the fault of President Obama.

Retirement, arbitrary job changes, career moves like common advancement or demotion, technology changes: all easily accountable potential sources for 1 in 40 jobs lost during a common calendar year.

It would also be common to see similar jobs created, position re-filled, or done without through improved efficiency. Yet, instead of being told to expect less than 3% turnover at a 14.5 billion dollar company, the editorial tries to tell us that it's the fault of President Obama. Please.

February 7, 2011 at 8:42 a.m.
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