Tags: Caterpillar | CEO | Obama | Jobs

Caterpillar CEO: Obama Not Doing Enough on Jobs

Friday, 12 Aug 2011 03:38 PM

President Barack Obama could do more to create jobs by pushing through pending free-trade agreements with Panama, Colombia, and South Korea, says Doug Oberhelman, CEO of Caterpillar.

Caterpillar’s export markets are strong and could be stronger if the president would push the pending agreements through Congress.

"Every day we’re hiring people because our business is picking up," Oberhelman tells CNBC.

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President Barack Obama
(Getty Images photo)
"Our export business is strong. In the U.S., as weak as it is, we’ve seen such an inventory depletion [that] we’ve seen some build back. It's from low levels, but any build back flows right through to our factories."

Free trade should be a done deal.

"Those are no-brainers right now," Oberhelman says.

Senate Majority Leader Harry Reid, D-Nev., and Minority Leader Mitch McConnell, R-Ky., have said they have reached an agreement on moving forward with the pacts, the Washington Post reports.

Both leaders disagree over terms with the Trade Adjustment Assistance program, which provides aid and retraining to workers who lose their jobs due to outsourcing.

“My staff and Senator McConnell’s staff have been in discussions for weeks over the Trade Adjustment Assistance program and the three outstanding (free trade agreements),” Reid says in a statement, according to the Post.

“We believe those discussions have provided a path forward in the Senate after we return for passage of the bipartisan compromise on the Trade Adjustment Assistance program, followed by passage of the three FTAs. I do not support movement on the FTAs, which I have never supported, until TAA has passed.”

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President Barack Obama could do more to create jobs by pushing through pending free-trade agreements with Panama, Colombia, and South Korea, says Doug Oberhelman, CEO of Caterpillar. Caterpillar s export markets are strong and could be stronger if the president would push...
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