Political Quotes

“Mr. President, this is a defining moment for the Senate in a couple of ways. The Democratic Senators have an alternative to the House-passed JOBS bill that will get a vote on their alternative. That is good. I believe the House-passed JOBS bill had overwhelming bipartisan support. It is a good document. I will support that version over my Senate Democratic colleagues. But let me tell you what our Senate Democratic colleagues have done that I think is very constructive. Ex-Im Bank is trying to be made part of the JOBS bill in the Senate. This Export-Import Bank, what does this mean? This is a financing ability by American companies that are selling overseas in volatile or emerging markets. It is a financing system that has been available since 1934. If you are going to try to sell a product made in America to a place in the world where traditional banking is hard to obtain, you can go to the Ex-Im Bank and they will give a letter of credit, they will sometimes give a direct loan to people who want to buy American products. The bank itself made $3.5 billion for the taxpayer I think since 2005 and 2006. Here is the reality: Every country we compete with has their version of Ex-Im Bank. We financed $32 billion worth of American-made products sold overseas through our Ex-Im system last year. Canada, one-tenth our size, financed $100 billion. France has three Ex-Im Banks. China has more Ex-Im activity than the United States, France, and Germany combined.…”