Nope, because I didn’t say it.
It was a Boeing representative on CNBC.
If the gov’t is giving away our money, I can’t fault Boeing to get in line to get some. The gov’t shouldn’t be loading debt on our children and grandchildren. The piper will have to be paid someday.
The government isn’t giving away anything.
What it does through the Export Bank is to borrow money using the government’s credit rating, which gets it the lowest possible rate. Then the bank loans that money at a slightly higher rate to Boeing and any other exporter that qualifies. In the process the Export Bank makes money. They’ve returned $7 billions in profits to the treasury over the last 20 years.
Killing the bank was stupid and didn’t save taxpayers anything. It cost us. It cost us, because we are now losing those export jobs. Boeing and GE both have taken processes overseas since killing the bank. So now taxpayers don’t get the $7 billion in profits over 20 years. They don’t get the taxes that would have been paid in, from the American workers. And instead we get to pay unemployment, food stamps and other safety net programs for these American workers that could have been building exports.
The government isn’t giving away anything.
What it does through the Export Bank is to borrow money using the government’s credit rating, which gets it the lowest possible rate. Then the bank loans that money at a slightly higher rate to Boeing and any other exporter that qualifies. In the process the Export Bank makes money. They’ve returned $7 billions in profits to the treasury over the last 20 years.
Killing the bank was stupid and didn’t save taxpayers anything. It cost us. It cost us, because we are now losing those export jobs. Boeing and GE both have taken processes overseas since killing the bank. So now taxpayers don’t get the $7 billion in profits over 20 years. They don’t get the taxes that would have been paid in, from the American workers. And instead we get to pay unemployment, food stamps and other safety net programs for these American workers that could have been building exports.