GOP block re-authorization of Export-Import bank kills jobs

[Mad Scientist]

President Obama hails return to PAYGO

President Barack Obama is hailing pay-as-you-go budget legislation he signed Friday night as one in a series of crucial steps needed to snap Washington out of a destructive pattern of overspending.

That just means that Dems will attach a tax hike to every spending program they want.

 

[ClosedCaption]

GOP block re-authorization of Export-Import bank set to increase the deficit, hurt exports and cause thousands of jobs to disappear.

US Export-Import Bank Approves Energy Financing Support
^IN 2011 Americas Export-import bank approved 3.4billion in financing to support largely energy production exports, due to the depressed economy this would result in around 20,000 new jobs.

Export-Import Bank of the United States to Establish Full-Time Presence in Atlanta, Detroit,... -- DETROIT, March 6, 2012 /PRNewswire-USNewswire/ --
^Over the period of 5 years the export-import bank reduced the deficit by 2billion
^The bank authorized 33billion dollars in export subsidies, helping maintain 300,000 jobs in 2011 alone

3.4 Billion for 22k Jobs , that's 156k per job

33 billion for 300k jobs, that's 110k per job

I guess that is better than the Stimulus which averaged 315k per job

Democrat logic, spend taxpayer money and use that money to pay wages 2 to 6 times the national average

315k per job? Does that figure include the tax cuts that was 50% of the stimulus?

 

[starcraftzzz]

GOP block re-authorization of Export-Import bank set to increase the deficit, hurt exports and cause thousands of jobs to disappear.

US Export-Import Bank Approves Energy Financing Support
^IN 2011 Americas Export-import bank approved 3.4billion in financing to support largely energy production exports, due to the depressed economy this would result in around 20,000 new jobs.

Export-Import Bank of the United States to Establish Full-Time Presence in Atlanta, Detroit,... -- DETROIT, March 6, 2012 /PRNewswire-USNewswire/ --
^Over the period of 5 years the export-import bank reduced the deficit by 2billion
^The bank authorized 33billion dollars in export subsidies, helping maintain 300,000 jobs in 2011 alone

3.4 Billion for 22k Jobs , that's 156k per job

33 billion for 300k jobs, that's 110k per job

I guess that is better than the Stimulus which averaged 315k per job

Democrat logic, spend taxpayer money and use that money to pay wages 2 to 6 times the national average

I see so according to you reducing the deficit means spending money

 

[Gremlin-USA]

GOP block re-authorization of Export-Import bank set to increase the deficit, hurt exports and cause thousands of jobs to disappear.

US Export-Import Bank Approves Energy Financing Support
^IN 2011 Americas Export-import bank approved 3.4billion in financing to support largely energy production exports, due to the depressed economy this would result in around 20,000 new jobs.

Export-Import Bank of the United States to Establish Full-Time Presence in Atlanta, Detroit,... -- DETROIT, March 6, 2012 /PRNewswire-USNewswire/ --
^Over the period of 5 years the export-import bank reduced the deficit by 2billion
^The bank authorized 33billion dollars in export subsidies, helping maintain 300,000 jobs in 2011 alone

3.4 Billion for 22k Jobs , that's 156k per job

33 billion for 300k jobs, that's 110k per job

I guess that is better than the Stimulus which averaged 315k per job

Democrat logic, spend taxpayer money and use that money to pay wages 2 to 6 times the national average

315k per job? Does that figure include the tax cuts that was 50% of the stimulus?

Tax cuts 50% of the stimulus?, now that is a spin I have never heard

So where the heck was my 5-6k tax refund?.... hmmmmm

 

[Gremlin-USA]

GOP block re-authorization of Export-Import bank set to increase the deficit, hurt exports and cause thousands of jobs to disappear.

US Export-Import Bank Approves Energy Financing Support
^IN 2011 Americas Export-import bank approved 3.4billion in financing to support largely energy production exports, due to the depressed economy this would result in around 20,000 new jobs.

Export-Import Bank of the United States to Establish Full-Time Presence in Atlanta, Detroit,... -- DETROIT, March 6, 2012 /PRNewswire-USNewswire/ --
^Over the period of 5 years the export-import bank reduced the deficit by 2billion
^The bank authorized 33billion dollars in export subsidies, helping maintain 300,000 jobs in 2011 alone

3.4 Billion for 22k Jobs , that's 156k per job

33 billion for 300k jobs, that's 110k per job

I guess that is better than the Stimulus which averaged 315k per job

Democrat logic, spend taxpayer money and use that money to pay wages 2 to 6 times the national average

I see so according to you reducing the deficit means spending money

The Stimulus only Increased the Deficit, and as far as the subsides how would that reduce the deficit if you use that money to pay people higher wages than the average wage people earn in the US?

 

[starcraftzzz]

3.4 Billion for 22k Jobs , that's 156k per job

33 billion for 300k jobs, that's 110k per job

I guess that is better than the Stimulus which averaged 315k per job

Democrat logic, spend taxpayer money and use that money to pay wages 2 to 6 times the national average

I see so according to you reducing the deficit means spending money

The Stimulus only Increased the Deficit, and as far as the subsides how would that reduce the deficit if you use that money to pay people higher wages than the average wage people earn in the US?

I see so according to you have more tax payers paying taxes means the deficit is not reduced. Also according to you because the stimulus increased the deficit it means the import-export bank which has nothing to do with the stimulus can't decrease the deficit....

 

[Mad Scientist]

Do you understand the term "subsidy"?

I have to admit I don't think I've ever heard of the Import/Export Bank before. Plus, Tim Geither being in on it makes me suspicious to begin with.

Rabbi, how is it a "subsidy"? The Im-Ex Bank finances sales to foreign countries that other private banks don't wanna' take a risk on. (There's a reason for that)

From Wikipedia (yeah I know, you guys don't like wiki):
Export-Import Bank of the United States - Wikipedia, the free encyclopedia

The Bank has come under criticism for allegedly favoring special interests ahead of that of the U.S. taxpayer. These interests include that of heavily subsidized corporations such as Boeing or Enron as well as those of well-connected foreign governments and nationals (such as a 1996 $120 million low-interest loan to the China National Nuclear Power Corporation (CNNP)). The majority of loan guarantees over 2007 and 2008 went to companies purchasing Boeing aircraft.

I'm thinking that Tariffs would work better anyway. Just charge an amount on imports to make that item the same cost as a competing American Product. Gov't makes money hand over fist, Americans not shut out by cheap, slave labor goods.

 

[Gremlin-USA]

I see so according to you reducing the deficit means spending money

The Stimulus only Increased the Deficit, and as far as the subsides how would that reduce the deficit if you use that money to pay people higher wages than the average wage people earn in the US?

I see so according to you have more tax payers paying taxes means the deficit is not reduced. Also according to you because the stimulus increased the deficit it means the import-export bank which has nothing to do with the stimulus can't decrease the deficit....

I just do not believe in stealing from Peter to pay Paul, we now steal from taxpayers to pay China more Interest than ever in History... it has been proven by Japan, Greece, and many other Nations, you cannot buy your way to economic prosperity, short term maybe, but I have yet to see any prosperity in the last 3 years by going 4.5 Trillion higher in debt.

 

[starcraftzzz]

The Stimulus only Increased the Deficit, and as far as the subsides how would that reduce the deficit if you use that money to pay people higher wages than the average wage people earn in the US?

I see so according to you have more tax payers paying taxes means the deficit is not reduced. Also according to you because the stimulus increased the deficit it means the import-export bank which has nothing to do with the stimulus can't decrease the deficit....

I just do not believe in stealing from Peter to pay Paul, we now steal from taxpayers to pay China more Interest than ever in History... it has been proven by Japan, Greece, and many other Nations, you cannot buy your way to economic prosperity, short term maybe, but I have yet to see any prosperity in the last 3 years by going 4.5 Trillion higher in debt.

I see so according o creating 300,000 jobs is a bad thing because.... why?
Furthermore if it was not for that 4.5trillioin in higher debt the economy would still be in recession

 

[Gremlin-USA]

I see so according to you have more tax payers paying taxes means the deficit is not reduced. Also according to you because the stimulus increased the deficit it means the import-export bank which has nothing to do with the stimulus can't decrease the deficit....

I just do not believe in stealing from Peter to pay Paul, we now steal from taxpayers to pay China more Interest than ever in History... it has been proven by Japan, Greece, and many other Nations, you cannot buy your way to economic prosperity, short term maybe, but I have yet to see any prosperity in the last 3 years by going 4.5 Trillion higher in debt.

I see so according o creating 300,000 jobs is a bad thing because.... why?

Instead of creating 300k jobs at 110k per year, why not hire 600k people at 55k per year?

12 Million out of work American would love to make 55k per year, it might have saved their life savings or their home.

 

[starcraftzzz]

I just do not believe in stealing from Peter to pay Paul, we now steal from taxpayers to pay China more Interest than ever in History... it has been proven by Japan, Greece, and many other Nations, you cannot buy your way to economic prosperity, short term maybe, but I have yet to see any prosperity in the last 3 years by going 4.5 Trillion higher in debt.

I see so according o creating 300,000 jobs is a bad thing because.... why?

Instead of creating 300k jobs at 110k per year, why not hire 600k people at 55k per year?

So your are against creating jobs because we can create jobs... what?
Also without that 4.5 trillion in added debt woe economy would still be in a recession

 

[Conservative]

I'm not sure how you think increaseing the deficit by over 4 billion dollars saves taxpayers money or how exporting is some how crony

Do you understand the term "subsidy"?

I see so according to you subsidy means increasing the deficit saves taxpayers money. come back when your arugment isn't "increasing the deficit saves money"

if you hate deficits, Obama must make you livid!

 

[starcraftzzz]

Do you understand the term "subsidy"?

I see so according to you subsidy means increasing the deficit saves taxpayers money. come back when your arugment isn't "increasing the deficit saves money"

if you hate deficits, Obama must make you livid!

Under Obama the deficit has gone from 1.4trillion to 1.3trillion so why would obama reducing the deficit make deficit haters livid?

 

[Conservative]

I see so according to you subsidy means increasing the deficit saves taxpayers money. come back when your arugment isn't "increasing the deficit saves money"

if you hate deficits, Obama must make you livid!

Under Obama the deficit has gone from 1.4trillion to 1.3trillion so why would obama reducing the deficit make deficit haters livid?

you're insane.

CBO sees higher near-term deficits under Obama plan | Reuters

The CBO's latest analysis shows the plan would pile up $6.39 trillion in cumulative deficits over a 10-year period, but that figure is about $294 billion less than the White House estimated in February for the same 2013-2022 period.

CBO says Obama's latest budget would add $3.5 trillion in deficits through 2022 - The Hill's On The Money

President Obama’s 2013 budget would add $3.5 trillion to annual deficits through 2022, according to a new estimate from the Congressional Budget Office (CBO).

It also would raise the deficit next year by $365 billion, according to the nonpartisan office.

The CBO estimate is in sharp contrast to White House claims last month that the Obama budget would reduce deficits by $3.2 trillion over the next decade.


 

[Gremlin-USA]

I see so according o creating 300,000 jobs is a bad thing because.... why?

Instead of creating 300k jobs at 110k per year, why not hire 600k people at 55k per year?

So your are against creating jobs because we can create jobs... what?
Also without that 4.5 trillion in added debt woe economy would still be in a recession

Nothing wrong with creating a job, but the point is creating a job that cost Taxpayesr 2 to 6 times what the average American Worker makes per year is ridiculous.....

4.5 Trillion did not get us out of the recession..... It will only cause more repercussions than most can imagine, but I am not in a teaching mood on economics tonight......

The net job gain in 3 years is still in the negative, but that is another story too

 

[Quantum Windbag]

GOP block re-authorization of Export-Import bank set to increase the deficit, hurt exports and cause thousands of jobs to disappear.

US Export-Import Bank Approves Energy Financing Support
^IN 2011 Americas Export-import bank approved 3.4billion in financing to support largely energy production exports, due to the depressed economy this would result in around 20,000 new jobs.

Export-Import Bank of the United States to Establish Full-Time Presence in Atlanta, Detroit,... -- DETROIT, March 6, 2012 /PRNewswire-USNewswire/ --
^Over the period of 5 years the export-import bank reduced the deficit by 2billion
^The bank authorized 33billion dollars in export subsidies, helping maintain 300,000 jobs in 2011 alone

You support corporate welfare now? Do you have any idea how much money th Ex-Im bank pours into GE and Boeing?

GOP joins Obama in embracing crony capitalism | Campaign 2012 | Washington Examiner

 

[starcraftzzz]

Instead of creating 300k jobs at 110k per year, why not hire 600k people at 55k per year?

So your are against creating jobs because we can create jobs... what?
Also without that 4.5 trillion in added debt woe economy would still be in a recession

Nothing wrong with creating a job, but the point is creating a job that cost Taxpayesr 2 to 6 times what the average American Worker makes per year is ridiculous.....

Wait so reducing the deficit now costs taxpayers money...

4.5 Trillion did not get us out of the recession..... It will only cause more repercussions than most can imagine, but I am not in a teaching mood on economics tonight......

Notice how Europe is still in recession and in a depression...
The Stimulus programs alone were responsible for the US economy leaving recession in 2010 and 2011

The net job gain in 3 years is still in the negative, but that is another story too

Yep and with out that 4.5trillion in spending there would of been no job gaints for the past 2 years a nd in fact more job losses

 

[starcraftzzz]

GOP block re-authorization of Export-Import bank set to increase the deficit, hurt exports and cause thousands of jobs to disappear.

US Export-Import Bank Approves Energy Financing Support
^IN 2011 Americas Export-import bank approved 3.4billion in financing to support largely energy production exports, due to the depressed economy this would result in around 20,000 new jobs.

Export-Import Bank of the United States to Establish Full-Time Presence in Atlanta, Detroit,... -- DETROIT, March 6, 2012 /PRNewswire-USNewswire/ --
^Over the period of 5 years the export-import bank reduced the deficit by 2billion
^The bank authorized 33billion dollars in export subsidies, helping maintain 300,000 jobs in 2011 alone

You support corporate welfare now? Do you have any idea how much money th Ex-Im bank pours into GE and Boeing?

GOP joins Obama in embracing crony capitalism | Campaign 2012 | Washington Examiner

Yep supporting jobs and exports is supporting corporate welfare.

 

[Quantum Windbag]

GOP block re-authorization of Export-Import bank set to increase the deficit, hurt exports and cause thousands of jobs to disappear.

US Export-Import Bank Approves Energy Financing Support
^IN 2011 Americas Export-import bank approved 3.4billion in financing to support largely energy production exports, due to the depressed economy this would result in around 20,000 new jobs.

Export-Import Bank of the United States to Establish Full-Time Presence in Atlanta, Detroit,... -- DETROIT, March 6, 2012 /PRNewswire-USNewswire/ --
^Over the period of 5 years the export-import bank reduced the deficit by 2billion
^The bank authorized 33billion dollars in export subsidies, helping maintain 300,000 jobs in 2011 alone

You support corporate welfare now? Do you have any idea how much money th Ex-Im bank pours into GE and Boeing?

GOP joins Obama in embracing crony capitalism | Campaign 2012 | Washington Examiner

Yep supporting jobs and exports is supporting corporate welfare.

I get it, Democrats support jobs by giving money to corporations, but Republicans support rich people by giving money to corporations.

 

[Mad Scientist]

You support corporate welfare now? Do you have any idea how much money th Ex-Im bank pours into GE and Boeing?

GOP joins Obama in embracing crony capitalism | Campaign 2012 | Washington Examiner

You nailed it! I think that's the heart of the matter and the reason for the Banks existence.