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I am defending facts, not the President.
I did not take issue with Reuters...good choice...but your interpretation of the article fell in line with the false claim by Briebart and others that this was 7B in taxpayer dollars being spent.
The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency of the United States. Ex-Im Bank's mission is to assist in financing the export of U.S. goods and services to international markets.
Ex-Im Bank enables U.S. companies — large and small — to turn export opportunities into real sales that help to maintain and create U.S. jobs and contribute to a stronger national economy.
Ex-Im Bank does not compete with private sector lenders but provides export financing products that fill gaps in trade financing. We assume credit and country risks that the private sector is unable or unwilling to accept. We also help to level the playing field for U.S. exporters by matching the financing that other governments provide to their exporters.
Ex-Im Bank provides working capital guarantees (pre-export financing); export credit insurance; and loan guarantees and direct loans (buyer financing). No transaction is too large or too small. On average, 85% of our transactions directly benefit U.S. small businesses.
With more than 77 years of experience, Ex-Im Bank has supported more than $456 billion of U.S. exports, primarily to developing markets worldwide.
Originally posted by Wrabbit2000
The majority of the 7 Billion (Over 5 Billion of it) .
This doesn’t mean that Ex-Im is spending or investing those $5 billion, rather the job of the Ex-Im bank is to help finance trading opportunities that private sector lenders are not willing to take a risk on. As Ex-Im describes its mission: “We assume credit and country risks that the private sector is unable or unwilling to accept. We also help to level the playing field for U.S. exporters by matching the financing that other governments provide to their exporters.”
“If Thomas Edison were to come back today, he’d feel right at home with America’s electrical system because not much has changed in the past century…” Langford lamented, “…on the East Coast where the electrical infrastructure was torn apart by Hurricane Sandy, they’re replacing the old system with exactly the same thing…meanwhile China is putting up power lines with only a 7 percent loss over 1200 miles. Anybody know what our system’s loss is over 1200 miles? Eighty percent.” As utilities prepare to build new power plants, how much money could consumers save in the long run if greater efficiency in our infrastructure reduced the number of power plants we use to merely make up for transmission loss?