Third Party Guy

Caterpillar's Loss Not a Good Harbinger of Economic Things to Come

"...the U.S. fiscal stimulus program is insufficient to offset the decline in private domestic demand....once again, evidence that despite the big numbers being thrown around in Washington too little is being directed where it would do the most good."

If you will remember, President Obama visited CAT earlier in the year shortly after CAT announced 20,000 layoffs. In his speech, Obama misquoted CEO Owens in saying that they agreed that the stimulus would alloy CAT to rehire many of its employees. In reality, Owens said a reasonably packaged stimulus would allow that rehiring (not necessarily Obama's Stimulus).

I imagine this chatter is a poke back at the administration.