Yesterday, White House Press Secretary Jay Carney said
If you don't want to ask corporate jet owners to give up their subsidies..., then it's harder to pay for these initiatives....
But I'm confused, because only three weeks ago, Obama's export-subsidy chief was promising more subsidies for corporate jets:
Export-Import Bank Chairman Fred Hochberg plans to provide more financial aid to U.S. corporate jet manufacturers, branching out from a traditional support for Boeing Co. (BA) to help an industry where demand has suffered....
Ex-Im supported $90 million of corporate jet deliveries last year to customers of Textron Inc. (TXT)’s Cessna Aircraft Co, General Dynamics Corp. (GD)’s Gulfstream unit and Hawker Beechcraft Corp. Hochberg said he plans to boost the aid to $1 billion by 2014. The increased focus comes after order backlogs on corporate jets fell by more than half to $40 billion in three years.
So in Obamanomics, are taxpayer-backed loans and loan-guarantees not subsidies, while allowing the owners of jets to spread the cost of a jet over five years instead of seven is a subsidy?
