It’s Only Healthcare: We had memos . . . but nobody looked at them.

Henry Waxman and Bart Stupak are hauling “Republican CEOs” of Caterpillar, Verizon, and Deere into Congressional hearings to explain their “claims” that ObamaCare is going to “adversely affect” the corporations’ ability to provide employees with health insurance.

It looks like Waxman and Stupak got caught with their pants down. According to an article in The American Spectator:

We had memos on these issues, but none of our people, we think, looked at them,” says  a staffer. “When they saw the stories last week about the charges some of the companies were taking, they were genuinely surprised and assumed that the companies were just doing this to embarrass them.  They really believed this bill would immediately lower costs. They just didn’t understand what they were voting on.

The President wasn’t doing any better:

Most of these people [in the Administration] have never had a real job in their lives. They don’t understand a thing about business, and that includes the President,” says a senior lobbyist for one of the companies that announced the charge. “My CEO sat with the President over lunch with two other CEOs, and each of them tried to explain to the President what this bill would do to our companies and the economy in general. First the President didn’t understand what they were talking about. Then he basically told my boss he was lying. Frankly my boss was embarrassed for him; he clearly had not been briefed and didn’t know what was in the bill.

More at Bread upon the Waters.