Caterpillar slashes jobs despite stimulus

Caterpillar Inc. of Illinois on Tuesday announced nearly 2,400 layoffs despite President Obama using his home state’s company as an example of a struggling manufacturer that would benefit from his economic stimulus plan and save jobs.

The new round of job cuts will span five plants in Illinois, Indiana and Georgia, and follows the January news that Caterpillar would slash 22,000 people from its 112,000-person workforce.

Mr. Obama hosted an event in support of his stimulus plan at the company’s Peoria, Ill., headquarters in mid-February, saying the $787 billion stimulus would be “a major step forward on our path to economic recovery.”
Read More

Obama spending billions of tax payers money and the economy is getting worst. He can not seem to understand that we can not spend our self out of this crisis!


(1) “People feel uncommonly saddened, miffed and burned.”