Weekly Address: The Export-Import Bank

[cal04]

Source: White House

In this week’s address, the President highlighted the progress made towards rebuilding our economy, including the creation of nearly 10 million new private sector jobs in the past 53 months and the rise in the number of American exports to an all-time high. That growth is in part thanks to the actions of the U.S. Export-Import Bank, an organization that creates American jobs by helping to take American businesses global. The charter of the Export-Import Bank is slated to expire next month, unless Members of Congress renew it, as has happened 16 times in the past with support from Democrats and Republicans. The President asked business owners and employees to reach out to their representatives, who are home this month, and let them know how important it is that the Export-Import Bank continue its work so that American businesses can continue to grow.

Read more: http://www.whitehouse.gov/the-press-office/2014/08/23/weekly-address-export-import-bank

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http://www.whitehouse.gov/the-press-office/2014/08/23/weekly-address-export-import-bank
Transcript
http://www.whitehouse.gov/the-press-office/2014/08/23/weekly-address-export-import-bank

[Paolo123]

1. What a load of bullshit.

It's just a subsidy to Boeing, mostly. They can fund their own god-damn deals without needing the help of taxpayers.

[George II]

2. Boeing wasn't even mentioned.

[Paolo123]

3. Yes, for a reason.

Boeing is the number one beneficiary.

[fasttense]

4. Pimping for the uber rich

You think this import export bank is helping you? Those new jobs created are for low paying service jobs that can't be done in China. They were NOT created by this bank.

The export import bank makes it possible for corporations to move to other countries and still sell their crap in America. They export jobs and import crap to sell. It's a win for the uber rich and Obama is affording them yet another privilege the rest of us don't have.

[ballyhoo]

5. Hilarious.

[pampango]

6. After losing on Obamacare, the tea party goes after a more manageable target: Import-Export Bank.

Long-building conservative anger at Export-Import Bank reaches boiling point

The tea party had waged wars against President Obama’s health-care plan and government spending. But in early 2012, it was beginning to sound its next battle cry, one that is now deepening the split within the Republican Party: “crony capitalism.”

On the sixth floor of a Washington office building, Barney Keller, a 20-something communications director and researcher for the conservative group Club for Growth, was searching the Web for information about the Export-Import Bank. The little-known government agency provides tens of billions of dollars annually in financing to help foreign buyers purchase U.S. planes, trucks and other goods.

Supporters of Ex-Im, which government auditors say makes money for taxpayers, contend a few bad apples should not diminish the beneficial role the agency plays in the U.S. economy, helping hundreds of American businesses offer credit to foreign buyers in a world where many other countries subsidize their industries.

Cantor's successor as majority leader, Rep. Kevin McCarthy of California, surprised constituents and many colleagues when he announced last Sunday that he would not support Ex-Im’s reauthorization. The opposition to Ex-Im has forced House Speaker John A. Boehner (R-Ohio) into a familiar if unwelcome spot, facing the choice of bowing to conservative forces in his party or overriding them by forging a compromise with Democrats.

http://www.washingtonpost.com/business/economy/long-building-conservative-anger-at-export-import-bank-reaches-boiling-point/2014/06/27/cce4a87a-fe01-11e3-b1f4-8e77c632c07b_story.html

The republican base was already frothing at the mouth over the Ex-Im Bank. Having Obama come out publicly and directly in favor of it must make them even madder.

[BumRushDaShow]

7. Thanks for posting!

Listened this morning and noted that he had shifted back to a domestic topic.

I think the one notable thing was that the mention of the run of number of months of job creation is now in its 53rd month, which continues the record that had surpassed Clinton's run.

[George II]

8. Imagine how long that would be if he wasn't the "worst president in history"!!!!