2016 Postmortem

Agschmid

(28,749 posts) Thu Mar 10, 2016, 12:10 AM Mar 2016

Obama: Why America Needs The Export/Import Bank.

Bernie is just wrong on this issue, and it's going to cost people jobs. They may have healthcare but they might not be employed.

MONDAY, I started the work week off right, by signing two bipartisan trade bills into law. They’ll help level the playing field for American workers and businesses, boost our economic ties with lower-income countries, and give our workers the job training and support they need to succeed in a rapidly changing world.

We should be building on that progress. Instead, just two days after I signed those two trade bills, Congress is taking a step backward.

of Wednesday, the authorization for the US Export-Import Bank, or “Ex-Im,” has expired. The bank’s sole mission is to support American jobs by increasing our exports. That’s it. It helps small businesses go global. It helps American entrepreneurs take that next step. Plus, it costs the taxpayers nothing — all its money comes from its own operations. In fact, it actually generates money for the taxpayer. That’s how cost-effective it is.

Ex-Im has provided support to businesses and boosted exports in all fifty states, as a state-by-state analysis my administration put out yesterday shows. Over the last six years, Ex-Im supported $3 billion of exports from 134 businesses in Massachusetts. But because Congress has failed to act, the bank’s mandate is running out. That means it’ll lose the authority to finance new exports in the future. Starting Wednesday, businesses that need additional help shipping their Made-in-America products around the globe will lose that help. And that means lost sales, lost customers, and lost opportunities.

Other countries aren’t going to just stop competing when Ex-Im lapses. There are 85 export credit agencies just like the Ex-Im Bank around the world. They’re all fighting for sales and export-backed jobs. They’re doing everything they can to help their businesses compete and win. Why wouldn’t we do the same?

https://www.bostonglobe.com/opinion/2015/06/30/president-obama-why-america-needs-export-import-bank/tiUXVEzaUOGAWz7p1asLzM/story.html

14 replies

= new reply since forum marked as read

Highlight:

Obama: Why America Needs The Export/Import Bank. (Original Post) Agschmid Mar 2016 OP

I do not have a big problem with this: Jarqui Mar 2016 #1

Oh sure, Obama. Tks. 7wo7rees Mar 2016 #2

The Ex-Im bank was created under FDR Yo_Mama_Been_Loggin Mar 2016 #6

Yup. Agschmid Mar 2016 #13

Yep Yo_Mama_Been_Loggin Mar 2016 #3

Here's a video of candidate Obama calling the Export Import Bank corporate welfare. DefenseLawyer Mar 2016 #4

The article is much more recent. Agschmid Mar 2016 #10

Obama just had a Press Conf. with visiting Canada's PM Trudeau KoKo Mar 2016 #14

YUUGE K'n'R ucrdem Mar 2016 #5

Yes. See the post above you. Luminous Animal Mar 2016 #8

See the OP where it's very clear where Obama stands. Agschmid Mar 2016 #11

Obama changed his position between 2007 and 2015 on Export Import bank revbones Mar 2016 #7

The U.S. is ~23% of the world's GDP Motown_Johnny Mar 2016 #9

True. It's good copy, though. Recursion Mar 2016 #12

Jarqui

(10,126 posts)

1. I do not have a big problem with this:

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 12:16 AM

Mar 2016

http://www.ibtimes.com/political-capital/bernie-sanders-gop-ally-opposing-export-import-bank-2125378

In 2012 and 2015, Sanders was the only Democratic Party-aligned lawmaker in either congressional chamber to continue voting against the standalone reauthorization bills -- and he did not soften his rhetoric. “At a time when almost every major corporation in this country has shut down plants and outsourced millions of American jobs, we should not be providing corporate welfare to multi-national corporations through the Export-Import Bank," he said after his June 2015 vote.

Bernie doesn't want 40-75% of the dough going to big corporations who don't need it.

7wo7rees

(5,128 posts)

2. Oh sure, Obama. Tks.

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 12:19 AM

Mar 2016

Yo_Mama_Been_Loggin

(108,035 posts)

6. The Ex-Im bank was created under FDR

Reply to 7wo7rees (Reply #2)

Thu Mar 10, 2016, 12:30 AM

Mar 2016

You know the guy Sanders claims he admires. It's actually self supporting. In fact it returned $675 million to taxpayers last year.

Agschmid

(28,749 posts)

13. Yup.

Reply to Yo_Mama_Been_Loggin (Reply #6)

Thu Mar 10, 2016, 11:51 AM

Mar 2016

Calling it out as a burden on the American economy is just a blatant misrepresentation.

Yo_Mama_Been_Loggin

(108,035 posts)

3. Yep

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 12:24 AM

Mar 2016

Washington State was leaning Sanders but may not be anymore. Boeing is the largest employer in my state.

And your last paragraph is spot on. All the Euro-socialist countries Sanders admires have their own Ex-IM banks.

DefenseLawyer

(11,101 posts)

4. Here's a video of candidate Obama calling the Export Import Bank corporate welfare.

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 12:28 AM

Mar 2016

Doh!

Agschmid

(28,749 posts)

10. The article is much more recent.

Reply to DefenseLawyer (Reply #4)

Thu Mar 10, 2016, 06:02 AM

Mar 2016

Apparently he has changed his mind.

KoKo

(84,711 posts)

14. Obama just had a Press Conf. with visiting Canada's PM Trudeau

Reply to DefenseLawyer (Reply #4)

Thu Mar 10, 2016, 01:22 PM

Mar 2016

where he was chastising "some in the Democratic Party" along with Republicans who are against his trade agreements.
He doesn't think that is wise policy.

I suspect we will see the TPP signed in the dead of night, when we least expect it, sometime before he leaves office.

ucrdem

(15,512 posts)

5. YUUGE K'n'R

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 12:28 AM

Mar 2016

Luminous Animal

(27,310 posts)

8. Yes. See the post above you.

Reply to ucrdem (Reply #5)

Thu Mar 10, 2016, 12:40 AM

Mar 2016

Agschmid

(28,749 posts)

11. See the OP where it's very clear where Obama stands.

Reply to Luminous Animal (Reply #8)

Thu Mar 10, 2016, 06:02 AM

Mar 2016

revbones

(3,660 posts)

7. Obama changed his position between 2007 and 2015 on Export Import bank

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 12:37 AM

Mar 2016

In 2007 he said "The Export Import Bank that's become little more than a fund for corporate welfare."

Motown_Johnny

(22,308 posts)

9. The U.S. is ~23% of the world's GDP

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 12:40 AM

Mar 2016

Who cares if there are 85 export credit agencies just like the Ex-Im Bank around the world?

Screw them.

If they want to do business here, and everyone does, we have the clout to make it happen on our terms. Losing this piece of crap, along with trade policy changes can make that happen.

Recursion

(56,582 posts)

12. True. It's good copy, though.

Reply to Agschmid (Original post)

Thu Mar 10, 2016, 06:09 AM

Mar 2016

As always, I get why Sanders is running the campaign he's running.

Ex-Im is fine. It costs nothing to taxpayers and makes some American exports a bit easier. That said if it's the sacrificial lamb of the moment, I get that.

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