Carney: Obamas subsidies: Private profit, public risk | WashingtonExaminer.com

And Ex-Im proclaims that it operates “at no cost to the taxpayer” because in recent years fees and interest payments have exceeded the costs of defaults. For this reason, Hochberg snapped at me last month when I used the S-word:

“We dont give subsidies,” he scolded me, “thats a fact.”

Hochberg is wrong — the World Trade Organizations definition of “subsidy” includes any government loan guarantee that benefits a private company.But whatever you call this government financing, expect to see more of it soon.

via Carney: Obamas subsidies: Private profit, public risk | WashingtonExaminer.com.

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