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The Congressional Budget Office says a number of government credit programs cost taxpayers...

"Crony capitalism" and "corporate welfare" are good rhetorical cudgels for politicians to wield, and increasingly Republicans use them against Democrats. But are they more than just rhetoric?

Some liberals argue that complaints about "corporatism" and the like are just vicious smears against Obama.

But these are real phenomena. There are government programs whose purpose is to subsidize large, politically connected companies. If Republicans want their rhetoric about corporate welfare to carry any weight, they've got some opportunities to show it.

Which brings us to an op-ed in today's Wall Street Journal:

Here's a neat trick: Ask a room full of congressmen what they think of corporate welfare. The scene will devolve into competing campaign speeches, each politician trying to one-up their peers' rhetoric. Now ask that same room what they think of the federally run Export-Import Bank. You'll only hear crickets — even though the bank is one of Washington's biggest corporate-welfare cash cows.

Congress has a chance to rectify its inconsistency in September, when the Ex-Im Bank comes up for reauthorization. If they're honest, the politicians who decry corporate welfare will let the bank, which authorized $27.3 billion in loans and guarantees in 2013, expire.

This is a real chance for Republicans to do something about corporate welfare, because, you see, Republicans don't actually need to pass anything to kill the Export-Import Bank. They just need to not pass a reauthorization through the House. Then Ex-Im's authority to issue new subsidies would end October 1.

(A confusing fact for those who follow the liberal line on money in politics: The op-ed is written by Tim Phillips of Americans for Prosperity, one of those dreaded Koch brothers-funded groups that liberal writers peg as "pro-corporate" because of their free-enterprise advocacy.

The Kochs are also behind the Kronies videos, and the Kronies are now taking on Ex-Im.)

Disclosure: As I've disclosed previously, I've received funding from organizations funded by Koch-backed groups.

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Timothy P. Carney

Senior Political Columnist
The Washington Examiner

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  • I think the Ex-Im is also seeking that the lending cap be raised. Domestically those for Ex-Im say the bank has created jobs, that is what Ex-Im claims. The supporters claim that small business' have benefited. ,First the definition of small business, except that of the SBA, is used loosely by pundits. We need to ask who are the beneficiary of the Ex-Im loaning practices. Here you will be most clear in connecting the dots.

    More than 1/2 of the loans on the banks balance sheet is for airplanes new and used ones. Who is one of the biggest mfg and sellers of planes in the U.S.? Well Boeing  and then you might ask way the bank is also called the Boeing Bank? The answer is clear.

    The bank is used by the administration to further O's agendas. The 'electrify Africa' it is no coincident that this has cropped up at the time that the banks re-authorization is due this year. Ex-Im boldly brags of billions loaned to this goal. At the same time a coal fired plant, state of the art, to be built in Africa was nixed by the administration. This means that O's agenda to kill coal is realized, no exports of coal to Africa. How many countries in Africa can pay back billions of loans? The wind and solar companies will have their dollars in the bank.

    Remember that O said that wind and solar would create jobs in the U.S.? He also said that panels had to be built in the U.S. because they did not ship that well. Are we to believe now that solar panels for Africa will be built in the U.S.? I don't think so -- Africans will be the recipients of those jobs. Solar outsourced. Clearly a bunch. Now the militants are assured more targets of destruction --

    We must also consider our behaviors in regard to Ex-Im and how that enables other nations both western and eastern companies and thus their gov'ts to realize gains. Clearly China will be a winner in terms of oil, France as well. China companies are big winners in solar panels, Canada not doing badly. The point is even giving the US solar big subsidies there is no guarantee that we will be the supplier in Africa. I will go so far as saying we will not. So what is this about? Cronyism, deals with nations made behind closed doors, agenda's on a international scale perhaps orchestrated by the UN.

    In the final the losers are the American people.

  • Admin

    Great post though; I think people need to know about this topic!  Free money for everbody (but you and me)

  • Admin

    btw there's no need to copy the top portion of an article with the title, author name, keywords and such.  As long as you have a backlink attribution to the original article, we will be "covered".  Informed Suzie on this - idk if she's had time to pass the info on to anyone else.

  • Admin

    "crickets"  lmao but yes, it seems to have been a well hidden, in the open, playground for cheap money. 

This reply was deleted.

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