On the recordMay 9, 2012
I urge a ``yes'' vote. The Wall Street Journal calls support for the Export-Import Bank ``job creation, French style.'' I'm not sure why they pick on the French. While the House Republicans have been agonizing about acting, export powerhouses like China have been dramatically increasing their export financing programs. Over the past year, China issued four times the amount invested by the U.S. And China is not alone. Germany, France, and India all provided at least seven times more export assistance, as a share of GDP, than the U.S. The rigid attitude of The Wall Street Journal is that, if the other side rigs the field of competition, you should do nothing. They believe that those nations will only hurt themselves if they act and that it will all work out in the wash in the end. The problem is that, in the meanwhile, you drown. I urge a ``yes'' vote.
