Troubled Timing

While the CBO projects the Export-Import Bank will make a profit of $14 billion through 2024 if it continues borrowing at the subsidized US Treasury rate, at market interest rates the Bank will post a $2 billion loss. While hardly gargantuan, the Bank isn’t a profit center! That said, closing it now as Republicans propose, during a time of weak growth, elevated unemployment and low interest rates is ill advised.