Big companies are starting the write downs.

On top of AT&T’s $1 billion, the writedown wave so far includes Deere & Co., $150 million; Caterpillar, $100 million; AK Steel, $31 million; 3M, $90 million; and Valero Energy, up to $20 million. Verizon has also warned its employees about its new higher health-care costs, and there will be many more in the coming days and weeks.

And Henry Waxman has the nerve to bring up analysis of the cost savings of health care that these companies are supposedly ignoring.

Meanwhile, Henry Waxman and House Democrats announced yesterday that they will haul these companies in for an April 21 hearing because their judgment “appears to conflict with independent analyses, which show that the new law will expand coverage and bring down costs.”

These companies apparently got some explaining to do. Whose analysis? The kool-aid drinkers at this or that liberal think tank? Ah… it says “independent analyses”. Sort of like ACORN was considered non-partisan.