Obama: subsidize exports to increase them

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. . . .

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Blogger Harry Schell said...

Obama wants to subsidize exports to make US goods more competitive. He doesn't want to sign free trade pacts, but wants to use taxpyer money to pick winners and losers...play ball with me and you get money. Diss me and you don't. It's all just a political game. Has to be, Barry couldn't run a lemonade stand and has surrounded himself with similarly competent people. But he can sell favors and put conditions on subsidies, like, make sure your workforce is unionized.

3/13/2010 11:23 AM  

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