Subsidizing exports to expand them?
Selling products for less than they are worth is not exactly a way to make the US wealthier.
President Obama unveiled plans Thursday to double U.S. exports over the next five years . . .
Designed to deliver on a pledge he made in his State of the Union speech, Obama's plan includes $2 billion in new export financing through the Export-Import Bank, which helps U.S. companies finance overseas sales; establishment of a Cabinet group to promote U.S. goods and services abroad; and an expanded role for the Nixon-era President's Export Council, to be chaired by W. James McNerney, Boeing's president and chief executive. Restrictions on the overseas sale of some high-end technology goods may also be eased.
If successful, the president said, the program would create 2 million jobs. Experts said the viability of that figure would depend on the type of exports that are expanded. . . .
Labels: freetrade, ObamaAdministration