"If you believe the likes of liberal columnists Thomas Frank, Frank Rich, and Jane Mayer, the Cato Institute is part of a "pro-corporate movement." I would like Frank, Rich, and Mayer, then to explain this Cato Institute paper calling for the abolition of the most blatant bit of corporate welfare in our government -- the Export-Import Bank of the United States.
Ex-Im exists to subsidize the exports of U.S. manufacturers -- mostly Boeing -- by loaning money and guaranteeing private bank loans to foreign buyers who buy American goods. In short, Ex-Im puts taxpayer money on the line to boost the sales of Boeing, GE, Halliburton, Bechtel, and Westinghouse.
For all of President Obama's talk about ending special interest favors and "turning government into a game only [the wealthy] can play," it's the libertarians -- not the Obamaites -- calling to end corporate welfare here. In fact, ramping up Ex-Im activity is one of Obama's stated goals"...........READ MORE
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