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Obama: Renew US Export-Import Bank     08/23 09:52

   EDGARTOWN, Mass. (AP) -- 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.


(KA)


 
 
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