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Tuesday, September 16, 2014, 4:26 a.m.
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Obama urges renewal of U.S. Export-Import Bank

By The Associated Press

This article was published August 23, 2014 at 10:22 a.m.

EDGARTOWN, Mass. — President Barack Obama is trying to rally support for a taxpayer-subsidized bank that he says creates jobs.

In his weekly radio and Internet address, Obama urges business owners to lobby Congress to renew the U.S. Export-Import Bank.

The bank provides loans, loan guarantees and credit insurance to foreign buyers of U.S. products. But it will cease functioning unless Congress renews its charter before October. Some Republican lawmakers who supported the bank in past years now want to put it out of business.

In the Republican address, party chairman Reince Priebus (ryns PREE'-bus) says there will be less government spending, flexible health care and better education under complete GOP control of Congress. The party needs to pick up six seats in the November elections to win back the Senate.

Comments on: Obama urges renewal of U.S. Export-Import Bank

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Displaying 1 - 2 of 2 total comments

LSS says... August 23, 2014 at 7:46 p.m.

Is Obama back at work from the golf course ?

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DontDrinkDatKoolAid says... August 24, 2014 at 3:03 a.m.

A taxpayer-subsidized bank? Can you say welfare.

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