Despite Obama's Boast, Caterpillar Readies FOURTH Round of Work Reductions

Stimulus bill did NOT result in rehiring workers!

Remember this:

Stimulus would let Caterpillar rehire workers: Obama
Reuters
Wed Feb 11, 2009

SPRINGFIELD, Va., Feb 11 (Reuters) - President Barack Obama said on Wednesday that Caterpillar Inc's (CAT.N) chief executive has said he would be able to rehire some of the company's 20,000 laid-off workers if Congress passes an $800 billion economic stimulus plan.
...
"Today, the chairman and CEO of Caterpillar said that if the American Recovery and Reinvestment Plan passes, his company would be able to rehire some of those employees," said Obama. The president is scheduled to visit a Caterpillar plant in East Peoria, Illinois, on Thursday.

Obama repeated that claim at the Caterpillar plant a day later even though Caterpillar CEO James Owens told him that more reductions were likely.

Monday, Caterpillar announced the FOURTH workforce reduction since Obama took office and the third since the stimulus bill was signed.

Obama promised that "shovel ready" projects would jump start our economy. It appears that the only shoveling going on is the B.S. coming from Obama.

In a related story, we learned recently that areas of the country hardest hit by the economic downturn were last in line for spending on new projects. Someone needs to do a correlation with spending from the stimulus bill and campaign contributions to Democrats and Obama!