There are three reasons why the Ex-Im Bank is a horrible idea for a free enterprise opportunity economic system:
1. It duplicates private venture capital
2. It is nothing more than corporate welfare
3. It is a perverse manner of granting foreign aid
The federal government has no business being in the business of economic cronyism and corruption by using American taxpayer dollars for venture capitalism. Government ends up using tax dollars to select the winners and losers in the private sector. This is a horrible idea — so why is the GOP majority in the Senate supporting it?
On Sunday, while we were enjoying church and family time, the GOP-controlled U.S. Senate voted to end cloture, 67-26, on the highway transportation bill — which is up for renewal the end of this month. The sad thing is that the Export-Import Bank reauthorization is attached to the Highway Transportation Bill.
Yes, ladies and gents, the exact thing the GOP Congressional leadership said they would not do — attach unrelated amendments to bills because they could not stand alone in passing – they did. It is the vile DC game we believed (hoped?) the GOP would not play, but I guess they lied. And they were called out by only one Senator.
Read the rest here...