Well, um, surprise?
(Daily Caller) General Electric is telling its investors that Obamacare is to blame for recent losses in the company’s health care division, The Daily Caller has learned.
“Hospitals and clinics appear to be delaying purchases and responses to the ACA [Affordable Care Act],†stated GE senior vice president and CFO Jeffrey S. Bornstein in the company’s first-quarter earnings call.
General Electric CEO Jeffrey Immelt, an outside economic adviser to President Obama, confirmed at a shareholder meeting Wednesday that the health sector is experiencing uncertainty.
Asked at the meeting about Obamacare’s impact on the company’s earnings, Immelt responded, “I think there’s still a lot of uncertainty in health care and we’ll just have to see that over time.â€
Uncertainty is a part of business. When Government steps in and makes the uncertainty artificially worse, especially in a huge sector of the economy, that’s a major problem. Government should take a light touch, should certainly only implement rules that are very specific, and should act mostly like refs, keeping things honest with agreed upon rules. Not causing problems and economic hardship.
