Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

athena

(4,187 posts)
5. Being against the Ex-Im Bank is an extreme right-wing position.
Fri Apr 29, 2016, 01:26 PM
Apr 2016

When you oppose the Export-Import Bank, you play right into the Republican party's hands.

http://www.nytimes.com/2015/10/26/business/ex-im-bank-dispute-threatens-ge-factory-that-obama-praised.html

Conservative Republicans have singled out the bank as a symbol of “corporate welfare,” saying it hands out generous subsidies, especially to big companies like G.E. This year, House Republicans blocked a vote to renew funding for the bank.

...

The bank offers financing and insurance for American companies exporting products, and most industrialized nations have similar agencies. The Export-Import Bank actually makes money and returns funds to the Treasury. The bank says it supported $27.4 billion in exports and 164,000 American jobs last year. Nearly 90 percent of its loan recipients, the bank says, were small businesses, whose exports accounted for about 40 percent of those supported with Export-Import funding.


The article explains further down that one of the organizations criticizing the Ex-Im bank is owned by the Koch brothers.

Here is further reading that can educate you about what the Ex-Im Bank does and why getting rid of it would put the U.S. at a huge disadvantage compared to countries like Germany:

http://www.nytimes.com/2015/08/01/opinion/revenge-of-the-ideologues-killing-the-export-import-bank.html
http://www.nytimes.com/2015/09/19/opinion/joe-nocera-republican-job-killers-and-the-export-import-bank.html

Recommendations

0 members have recommended this reply (displayed in chronological order):

Latest Discussions»Retired Forums»2016 Postmortem»Export-import bank, votes...»Reply #5