BoatBanter.com - View Single Post - Stimulus would let Caterpillar rehire workers: Obama

BAR[_2_]

wrote:
On Wed, 11 Feb 2009 20:46:07 -0500, BAR wrote:

wrote:
On Wed, 11 Feb 2009 14:29:44 -0800 (PST), wrote:

On Feb 11, 12:01 pm, HK wrote:
Stimulus would let Caterpillar rehire workers: Obama
Wed Feb 11, 2009 12:43pm EST

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.

Speaking at the site of a highway construction project in Virginia,
Obama noted that the heavy equipment machinery giant had announced some
20,000 layoffs in the past few weeks as a result of the global economic
crisis.

"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.

To do what? Build heavy equipment that no one is buying?
Are you really that simple? A big piece of the plan is INFRASTRUCTURE.
That means fixing and building bridges, roads and other big stuff that
will require heavy equipment.

Infrastructure does not produce long term jobs. You can't keep pulling
money out of the economy and put it into infrastructure projects because
one day you will have no one to use the infrastructure. And, no more
economy to pull more money from.

You are that simple!

Me simple? Laundering money through the government is not going to
create wealth, create long term jobs and save your grand children from a
life of 80 to 90 percent income taxes.