Despite Obama claim that stimulus would cause Caterpillar re-hirings, layoffs accelerated

Two months ago Barack Obama spoke at a Caterpillar plant in Peoria, Illinois where he made the claim--he was selling his since-passed stimulus package--that once his bill became law, "Cat" would begin rehiring workers. The construction-vehicle giant's CEO immediately contradicted what Obama said.

Last month Caterpillar laid off some workers. Now it's speeding up those layoffs.

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