This week’s Follow the Money article featured in RedState takes a look at the corporations benefiting from the controversial Export-Import Bank.
“There are two types of businesses: successful ones that don’t need financial assistance from the government, and unsuccessful ones that don’t deserve it.”
This line from Heritage Foundation President Jim DeMint in a recent column perfectly underscores the reason for principled opposition to the Export-Import Bank by conservatives.
Unfortunately, a major entity in the business world with whom conservatives often find common political ground is spearheading the efforts to renew the Ex-Im Bank’s charter before it expires on June 30. Last week, the United States Chamber of Commerce announced a $1 million advertising campaign pushing for Congressional action that would allow the “symbol of crony capitalism” to continue financing loans to foreign companies purchasing American products. Ironically, then candidate Obama was also against it before he was for it, calling the Ex-Im Bank “little more than a fund for corporate welfare.”
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