President Obama has signed bipartisan legislation that allows the bank to continue financing U.S. exports through 2014. Mr. Obama said the move will help thousands of businesses sell their products and services oversees and create jobs at home.
In his State of the Union address two years ago, President Obama argued there were a few things the U.S. needed to do in order to recover from the economic recession. One of them was to export more of our goods around the world.
"The more products we make and sell to other countries, the more jobs we support right here in America," Obama said.
That night, the president unveiled a new goal: to double U.S. exports over the next five years. It would be an increase that the president said would "support two million jobs in America."
This is WEEKEND EDITION from NPR News. I'm Linda Wertheimer.
President Obama is in Colombia today, along with 33 leaders, gathered for the Summit of the Americas. During his visit, the president hopes to highlight growing economic ties within the region. On his way to Colombia, Mr. Obama made a swing-state pit-stop in Tampa, Florida.