Weekly
Address: The Export-Import Bank
The White House
Saturday, August 23, 2014
Hi, everybody. Nearly six years
after the worst financial crisis of our lifetimes, our businesses have added
nearly 10 million new jobs over the past 53 months. That’s the longest streak
of private-sector job creation in our history. And we’re in a six-month streak
with our economy creating at least 200,000 new jobs each month – the first time
that’s happened since 1997.
Thanks to the decisions we made
to rescue and rebuild our economy, and your hard work and resilience, America
is leading again. Areas like manufacturing, energy, technology, and autos are
all booming. And here’s the thing: we’re selling more goods Made in America to
the rest of the world than ever before. American exports are at an all-time
high.
Over the past five years, we’ve
worked hard to open new markets for our businesses, and to help them compete on
a level playing field in those markets. And we’ve broken records for exports
four years running. Last year, our exports supported more than 11 million
American jobs – about 1.6 million more than when I took office. They’re good
jobs that typically pay about 15% more than the national average. And more
small businesses are selling their goods abroad than ever before – nearly
300,000 last year alone.
We should be doing everything we
can to accelerate this progress, not stall it.
One place to start is by
supporting something called the U.S. Export-Import Bank. Its sole mission is to
create American jobs. That’s it. It helps many American entrepreneurs take that
next step and take their small business global. But next month, its charter
will expire – unless Members of Congress do their job and reauthorize it.
Now, past Congresses have done
this 16 times, always with support from both parties. Republican and Democratic
Presidents have supported the bank, too. This time around shouldn’t be any
different. Because the bank works. It’s independent. It pays for itself. But if
Congress fails to act, thousands of businesses, large and small, that sell
their products abroad will take a completely unnecessary hit.
Small business owners have had to
overcome a lot these past several years. We all saw local businesses close
their doors during the crisis. And in the past few years, we’ve seen more and
more open their doors and do their part to help lead America’s comeback. At the
very least, they deserve a Congress that doesn’t stand in the way of their
success.
Your members of Congress are home
this month. If you’re a small business owner or employee of a large business
that depends on financing to tackle new markets and create new jobs, tell them
to quit treating your business like it’s expendable, and start treating it for
what it is: vital to America’s success. Tell them to do their jobs – keep
America’s exports growing, and keep America’s recovery going.
Thanks, and have a great weekend. |
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