Close Caption... Doesn't Always Capture Correctly

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I sitting in the waiting room of my doctors office today. The TV was on and President Obama was talking about his Jobs Plan proposal. Close Caption was also showing on the screen, typing all the words that were being said during the broadcast. The President comes out of a room in the back, shaking hands and talking to people along the way as he heads towards the podium up front. All along, close caption is typing merrily away on the screen "Thank You", (Applause), etc. After he steps behind the podium, "Thank you", "Like you very much" dances across the bottom of the screen in big bold letters. Obviously, the President said "Thank you very much". I don't know how Close Caption transfers what is said to the screen; probably voice recognition. I would think there would be some way to catch typos before they show on the screen. A deaf person watching that broadcast was probably questioning, what????.... and scratching his head. Has anyone else seen Close Caption typos come dancing across the screen?