Saturday, May 23, 2015

EX-IM.

       Have you ever heard of the Ex-Im bank? It's full name is the Export-Import Bank of the United States. It's job is to help American companies who export products by either making loans to the companies or guaranteeing loans for the companies. But they only do it if or when private banking won't do it. It's a way of helping companies compete internationally.
       Well anyway, there has been an effort for some time to end the bank by not reauthorizing it. Right now, the leadership in both houses are against the Ex-Im bank. They don't think it's right for the government to be involved in any banking of this type. Now they could defund the bank, well except that the bank actually makes a profit for the government so that it really doesn't require any funding from the government. It adds funding to the government.
       Meanwhile dozens of other countries have the same or similar entities that do the same thing, help their country's businesses win contacts for exporting their products. So if America ends it's help, all those other countries will leap at the chance to beat out American companies. Especially China. What's a Congress to do? Now there's a question for ya.
       Congressional leadership still adheres to the idea that government can't create jobs. Well, even if you believe that, by eliminating the Ex-Im Bank, government will almost assuredly lose jobs. That and of course it will absolutely lose the income of the Ex-Im Bank.

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