But he saved the jobs of all of those still employed there, right? At least that will be the narrative from the bulk of the mainstream media and the left (but I repeat myself). Here’s what Obama said while selling the massive stimulus package back on February 12, 2009:

And I’m not the only one who thinks so. Yesterday, Jim, the head of Caterpillar, said that if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off. And that’s a story I’m confident will be repeated at companies across the country — companies that are currently struggling to borrow money selling their products, struggling to make payroll, but could find themselves in a different position when we start implementing the plan. Rather than downsizing, they may be able to start growing again. Rather than cutting jobs, they may be able to create them again.

That’s the goal at the heart of this plan: to create jobs.

Well, Jim quickly clarified to reporters that he said no such thing. But it was too late; Obama had promised the jobs would be saved if Americans just supported his massive spending bill. And now here’s the news out of Caterpillar today:

What infrastructure boom? If there is one, Caterpillar (CAT), whose CEO promised Obama that the stimulus would allow it to keep more employees, isn’t seeing one.

The company just announced another 2,454 layoffs in three states. This is the company’s third round of layoffs in just a few months.

You mean this stimulus isn’t saving jobs in even the most touted sectors that the president himself claimed it would save jobs in? Could it be that the porkulus was just a massive spending bill to pay back Democratic constituencies and fund all of the pet projects members of Congress have been sitting on, all under the guise of an emergency economic stimulus? Shocka!

More: HAH.