Wednesday, July 22, 2009

Obama Touts Decline in Caterpillar as Stimulus Success

Is the President permanentaly out to lunch? Another hyperbolic claim made by President Obama is that his administration's success was in line with Caterpillar Corporations' recently quarter profit results. That's a sad analogy, and further proof of a clueless seat-of-the-pants White House. There's some truth in what the president said. He's tanked the U.S. economy by his reckless out-of-control money giveaways to who knows where....

Caterpillar did get stimulus money but sales have declined immensely from last year and are down from 40 to 60 percent in some areas. Caterpillar did make some money on its foreign operations, mainly due to currency weakness in the U.S. but that's not something the Obama administration should brag about.

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