[cut a bank that has generated $7 billion in profits for the Treasury in the last 20 years, and which helps our exporters.]
You have posted this before which is promoted by the Chamber of Commerce. Because the bank uses some arcane accounting methods they falsely claim to produce profit. However, when the books are properly reported, the loss is 2 billion dollars per decade since the founding of the EX-IM bank.
That sounds about right, which also explains why they loan primarily to the biggest players now, who have no real need for the money.
The system is so corrupt now, that it is used to garner political support from the beneficiaries of the program.
President Ronald Reagan, January 30, 1984: "Exports create and sustain jobs for millions of American workers and contribute to the growth and strength of the United States economy. The Export-Import Bank contributes in a significant way to our nation's export sales."
President Ronald Reagan, January 30, 1984: "Exports create and sustain jobs for millions of American workers and contribute to the growth and strength of the United States economy. The Export-Import Bank contributes in a significant way to our nation's export sales."