New Stimulus Orders Stabilize Bus Industry

So companies such as Cummins can both benefit from the stimulus and still predict significant revenue declines this year.

"It will certainly help, but we're not talking about hundreds of thousands of engines here," Land said.

This experience plays out repeatedly nationwide. When the White House says it has saved jobs, it's talking about companies such as Daimler, New Flyer and Cummins. The overall economy, meanwhile, has lost 1.3 million jobs since the stimulus law was passed.

Obama has promised to create or save 3.5 million jobs, but the White House is well aware that unless the economy turns around, voters are unlikely to give credit for economic models showing the stimulus was a success.

At Cummins, workers are rooting for the stimulus to work, Land said, not because of the small direct benefit but because of the potential indirect benefit.

"To the extent the stimulus is successful helping get the economy in the right direction, to the extent it helps the economy, helps our market, that's where we're going to benefit," Land said. "If that allows us to bring a few people back, then it will be fair to say then the stimulus was part of the solution."