It is as if the Tea Party has a bad a grasp of economics as anyone on the anti-capitalism far left. Everything is "crony capitalism" to them.
Has Ex-Im finally discovered the elusive free lunch? Suppose it’s true, as the bank reports, that 205,000 U.S. workers
owed their employment to Ex-Im-supported exports in fiscal 2013. This
is not evidence of job creation; it’s evidence of
governmentally-assisted job allocation. Resources that Ex-Im helped
steer to Boeing, et al., might have created the same number of jobs, or
more, at other firms.
Yeah, they are called firms and jobs that will be in other countries. Why should we dismantle our loan guarantees when China, Japan, and European countries refuse to dismantle theirs? So we can maybe save $2 billion in 10 years? I would rather have that money going to Boeing and jobs in the US than some foreign competitor. In fact this is pocket change when compared to subsidies to other business. I would gladly exchange all the targeted subsidies for a corporate tax cut to an average of the 10 largest economies.
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