Just think how many things could be taken care of by government that isn’t or how much more smoothly current programs could run but aren’t because of a supposed lack of funds (the VA, the IRS and BORDER SECURITY to name just a few). The Export-Import Bank is another sterling example of not only wasted dollars, but lost jobs and the continuation of crony capitalism. It gives taxpayer backed loans, credit and credit insurance to FOREIGN companies in the hope they will buy US exports.
Here are 3 good reasons not to reauthorize the Export-Import Bank which will be voted on shortly after the August recess:
- It’s expensive
- It doesn’t boost U.S. Exports
- It’s crony capitalism at its most obvious (bureaucrats providing profit to private players)
Every time reauthorization for the EX-IM Bank comes up the politicians who like it (due to kickback & bribes received) claim it should just be reformed, but we all know how that goes in Washington D.C. don’t we? And BTW, Obama spouting off in the beginning of this video flipped-flopped on the EX-IM Bank between the time of his 2008 campaign and now. Watch the Liar-in-Chief do what he does best.
Aloha, Mikie ~just a blogger (fightin’ like a girl)