Stimulus Not Work for Cat

Bloomberg:

Caterpillar Inc., the bulldozer manufacturer President Barack Obama used to help push his $787 billion stimulus plan, called the program disappointing and less effective than measures approved by China.

“The infrastructure portion of the stimulus package was disappointing in that it was less aggressive than other countries and missed an opportunity to correct past underinvestment in U.S. infrastructure,” Caterpillar said in economic commentary with today’s first-quarter earnings report.

Chief Executive Officer Jim Owens, 63, is a member of the president’s Economic Recovery Advisory Board. Obama visited the Peoria, Illinois, headquarters on Feb. 12, the final day of his campaign to press for Congressional passage. Caterpillar today reported its first net loss in 16 years as a global credit crunch and recession reduced demand from builders and miners.

How about approving the Colombian Free Trade Agreement. Anything to say Mr. President?