Opposition to the Export-Import Bank is an idea, and we are all entitled to our own ideas and opinions. The Examiner‘s Tim Carney is no exception. But before an idea is transformed into public policy it should be measured by its costs and benefits.

So does the idea that Ex-Im Bank should not exist come with costs? In our global economy, where growth markets are not in the U.S. but outside our borders, businesses need government-backed lines of credit and loan guarantees to remain competitive, which is what Ex-Im provides. When these lines of credit are lost, American competitiveness is also lost, translating directly into reduced job creation and job loss. Make no mistake – the loss of jobs in South Carolina and across the nation will be a consequence of doing away with this important institution.