Nocera and Collins

In “Republican Job Killers and the Export-Import Bank” Mr. Nocera tells us that top chief executives sound off against the effort to kill the Ex-Im Bank.  Ms. Collins considers “The Fight for Unplanned Parenthood” and says Republicans’ new push against Planned Parenthood isn’t just about abortion.  Here’s Mr. Nocera:

“At a time when we want to compete around the world, it is hard to believe what is happening in the U.S. Congress,” said Jeff Immelt, the chief executive of General Electric.

“The ultimate irony is that we are on the verge of an American manufacturing renaissance,” bemoaned Jim McNerney, the chairman of Boeing. “Yet this action is causing companies to start looking outside the U.S. instead.”

“People complain that the bank only helps big companies,” said Doug Oberhelman, the chairman and C.E.O. of Caterpillar. “A lot of our suppliers are small. They don’t export, but we do. And if we aren’t exporting, they aren’t selling to us.” He added, “I find it staggering that we would put highly paid export-oriented jobs at risk.”

What Oberhelman finds “staggering,” Immelt finds “hard to believe” and McNerney finds ironic is the refusal of Republican extremists — led by the House Financial Services Committee’s chairman, Jeb Hensarling — to allow a vote on the reauthorization of the Export-Import Bank of the United States, a vote that would pass in a landslide. The Ex-Im Bank, which insures and sometimes finances export sales, had to stop making deals at the end of June, when its reauthorization deadline came and went.

Although the Ex-Im Bank still exists, it has been reduced these days to managing its portfolio, rather than underwriting or insuring new deals. According to Boeing, its foreign rival Airbus, which can tap not one but three export credit agencies, is spreading the word to potential aircraft customers that Boeing can no longer compete when bids require sovereign insurance. That is hardly the only such example.

The damage this is doing to our economy is starting to become clear. In recent weeks, Boeing, America’s largest exporter in dollar volume, made two sobering announcements: first, that Asia Broadcast Satellite canceled an $85 million satellite contract expressly because there was no Ex-Im support. (Boeing is hoping to renegotiate.) More recently, Kacific, a Singapore-based satellite company, told Boeing not to bother bidding on a satellite contract, again because of a lack of Ex-Im financing.

As a result, McNerney told me, “layoffs in the hundreds” have taken place in Boeing’s satellite division.

This week, it was G.E.’s turn to make Ex-Im-related news. First, it said it would move 400 jobs to France to manufacture — and export — gas turbines, and 100 final assembly jobs to Hungary and China. Then it said it would create a new turboprop center in Europe that would employ up to 1,000 people. In both cases, G.E. said the moves would allow the company to take advantage of European export credit agencies.

When I spoke to Immelt, McNerney and Oberhelman, whose company also uses the agency, they all sounded astonished that this important tool, which they need to compete with companies abroad, was being taken away for purely ideological reasons.

“If no other country had export financing, that would be one thing,” said Immelt. “But that’s not where the world is. What you are really doing is helping Siemens and China Rail” — companies that rely heavily on their countries’ export financing.

Immelt told me that G.E. currently has $11 billion in potential deals that require export credit agency financing. That’s real money, even for General Electric.

McNerney pointed out that many big deals require export financing for the bid to even be considered. He also noted, ominously, that 10 to 15 percent of Boeing’s aircraft exports are dependent on Ex-Im support. Losing that business would be devastating for the company, and its employees.

When asked about the accusation from the right that the Ex-Im Bank is a classic case of government picking winners and losers, Oberhelman said that “if this doesn’t change, we’re all going to be losers.”

The anti-Ex-Im Bank faction is having a glorious time mocking the G.E. and Boeing announcements. A spokesman for Heritage Action for America, the conservative think tank leading the charge, described G.E.’s moves as “multinational crony capitalism.” Hensarling issued a statement claiming Boeing could finance the satellite deals itself to prevent layoffs; “it just chooses not to.”

And an unidentified financial services committee staffer told Politico that the loss of 500 G.E. jobs was a drop in the bucket for a company that employs 136,000 people in the U.S.

That heartless quote reminded me of an anecdote in “Confidence Men,” Ron Suskind’s book about the Obama administration’s financial team during the president’s first term. Some of Obama’s top advisers wanted to let Chrysler fail. But in a critical meeting, Ron Bloom, a former adviser to the United Steelworkers who was a member of Obama’s Auto Task Force, said, “Mr. President, these are the reasons we can’t kill this company. The damage to these communities and people will never be undone.”

Chrysler was ultimately saved because the president’s advisers suddenly understood that it was their role to save jobs, not to sacrifice them on the altar of economic purity. What will it take for the Republicans to come to the same realization?

Now here’s Ms. Collins:

Planned Parenthood! Government shutdown!

Anti-abortion politicians are in an uproar over videos that supposedly show Planned Parenthood representatives negotiating on prices for tissue from aborted fetuses. Carly Fiorina was passionate about the subject in this week’s Republican debate. Nothing she said was accurate, but nobody’s perfect.

The House Judiciary Committee has been investigating the matter with lawyerly precision, starting with a hearing titled: “Planned Parenthood Exposed: Examining the Horrific Abortion Practices at the Nation’s Largest Abortion Provider.” In a further effort to offer balance and perspective, the committee did not invite Planned Parenthood to testify.

(Coming soon: The House Committee on Energy and Commerce prepares to welcome Pope Francis with a hearing on “Papal Fallibility: Why He’s Totally, Completely and Utterly Off Base About Global Warming.”)

Planned Parenthood gets about $500 million a year from the federal government, mainly in reimbursements for treating Medicaid patients. Now the House Freedom Caucus, which specializes in threatening to shut down the government, has announced that its members won’t vote for any spending bill unless the money is eliminated.

At Wednesday’s debate, Jeb Bush issued a popular Republican call for transferring the money to other “community-based organizations” that provide women’s health services. “That’s the way you do this is you improve the condition for people,” he said. As only Jeb Bush can.

You may recall that Bush made a similar suggestion earlier in the campaign, in which he added — to his lasting regret — “although I’m not sure we need half a billion dollars for women’s health issues.”

“I misspoke,” the former governor of Florida said later. Well, that does seem to happen a lot. But do you think it was really a slip of the tongue? Or are there other services Planned Parenthood provides that Bush would be happy to get rid of as well? He did once write a book that tackled the subject of how to reduce abortions without ever mentioning the word “contraception.”

This leads us to an important question about the Planned Parenthood debate: Are the people who want to put it out of business just opposed to the abortions (which don’t receive federal funds), or are they against family planning, period?

“I’m telling you, it’s family planning,” House Minority Leader Nancy Pelosi said in a phone interview. “They decided that was their target long ago.”

Let’s look at the even larger question: Can Congress really just move the Planned Parenthood money to other health care providers? Besides family planning services, Planned Parenthood offers everything from breast exams to screening for sexually transmitted infections. Many of its patients live in poor or rural areas without a lot of other options.

Another move-the-money presidential candidate is Gov. Bobby Jindal of Louisiana — he’s the one issuing round-the-clock insults to Donald Trump in the desperate hope of attracting a little attention.

Jindal cut off $730,000 in Medicaid reimbursements to his state’s two Planned Parenthood clinics, even though neither offers abortion services. They do, however, provide thousands of women with health care, including screening for sexually transmitted infections — a terrible problem in some parts of the state.

No big deal. When the issue went to court, Jindal’s administration provided a list of more than 2,000 other places where Planned Parenthood’s patients could get care.

“It strikes me as extremely odd that you have a dermatologist, an audiologist, a dentist who are billing for family planning services,”responded the judge.

Whoops. It appeared that the list-makers had overestimated a tad, and the number of alternate providers was actually more like 29. None of whichhad the capacity to take on a flood of additional patients.

When Planned Parenthood leaves town, bad things follow. Ask the county in Indiana that drove out its clinic, which happened to be the only place in the area that offered H.I.V. testing. That was in 2013; in March the governor announced a “public health emergency” due to the spike in H.I.V. cases.

Sara Rosenbaum, a professor of health law and policy at George Washington University, studied what happened when Texas blocked Planned Parenthood grants and tried to move the money to other providers. Even when there were other clinics in an area, she said, “they were overbooked with their own patients. What happened in Texas was the amount of family planning services dropped. And the next thing that happened, of course, was that unplanned pregnancies began to rise.”

If an elected official wants to try to drive Planned Parenthood out of business, there are two honest options: Announce that first you’re going to invest a ton of new taxpayer money in creating real substitutes, or shrug your shoulders and tell the world that you’re fine with cutting off health services to some of your neediest constituents.

If you get heat, you can always say you misspoke.

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One Response to “Nocera and Collins”

  1. Aldridge Goodhammer Says:

    Why are GE, BA and CAT unable to obtain backing using commercial lenders? Yes it’s risk but why and what is the risk? Let’s see who are their competitors? Deere and FIAT? Siemens, Johnson Controls or Honeywell? Airbus? Actually the three dominate their segments in the US. Government subsidies already provide a huge cash cow to them. Why are they so weak? Is it China who wants the contract?

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