Marine Log, July 1st, 2001
Nick Blenkey
Outside of shipbuilding and shipping circles, the phrase "Title XI" is likely to be completely meaningless. That could be one of the reasons why the Office of Management and Budget decided to zap the program when scratching around for the money to pay for President Bush's tax cut.
To American shipbuilders and their suppliers, the program is, however, an absolutely vital life support mechanism.
From a philosophical viewpoint, it's easy to label the program as "corporate welfare" and to maintain that all forms of subsidy are wrong.
In the real world, shipbuilding, in just abou...
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