Posted on 10/01/2014 4:06:18 AM PDT by Cincinatus' Wife
A top Boeing official criticized Congress on Tuesday for failing to pass a long-term reauthorization of the Export-Import Bank.
He also argued that an extension of the Bank’s charter until next summer leaves supporters in a worse position than they were in before.
“Mostly far-right political consultants, think tanks and congressmen banded together in a fit of ideological road rage to kill the bank,” Boeing senior vice president Timothy Keating said in prepared remarks at an aerospace conference in Everett, Wash.
“The temporary extension recently enacted in many respects leaves us worse off than before,” Keating continued. “The extension is to next summer, when in all likelihood the Congress will be more polarized, than even now. And a short-term extension does not provide business certainty, both for U.S. exporters and their potential foreign customers."
Tea Party groups oppose the bank. They argue that it unfairly helps companies like Boeing and is an example of “corporate welfare.”
Boeing and most centrist Republicans and Democrats argue that the bank is needed to help secure American jobs, while also allowing for U.S. companies to make inroads overseas in emerging markets.
They also argue that other countries have similar state-supported enterprises, so the U.S. would be unilaterally disarming by killing off the bank.
Keating noted that while the fate of the bank is uncertain, America's competitors – such as China -- are trying to lure potential business in their direction.
“The Export-Import Bank gives American manufacturing a fighting chance in the global arena. Ex-Im has long enjoyed broad bi-partisan support in the Congress, and presidents ranging from Ronald Reagan to Barack Obama have favored its continued operation," said Keating, a former special assistant to President Bill Clinton.
“Spending too long in Washington, D.C., can make you a bit jaded and hard to surprise,” he said, “but it is still amazing to me that the people going after Ex-Im are basically willing to dismantle the U.S. aerospace industry and ship the jobs to France or China all in order to raise some extra money and show their most rabid supporters that it is possible to kill a government program, irrespective of the real-world consequences.”
“...irrespective of world consequences...”
The perils of adolescent psychotics electing other adolescent psychotics to political office.
IMHO
What song would Boeing be singing if they could freely build in right to work states and have the corporate tax rate drop from 40%?
THANK YOU, TEA Party. Crony capitalism needs to end. Boeing doesn’t need a sweetheart deal where their risk is absorbed by the tax payers.
Boo-hoo. Free enterprise shouldn’t need taxpayer subsidies. Government doesn’t pick winners and losers in a free economy. There are too many Poor feeding at the government trough now, so the Rich will have to fend for themselves.
From Mr. Keating’s bio: “Keating served the Clinton Administration as special assistant to the President and staff director for White House Legislative Affairs. At the request of the White House, he served as director for Government Affairs and co-director of Credentials for the 1996 Democratic National Convention in Chicago.”
Another Dem puke. The ‘far-right’ blurb is always a sure tipper.
“What song would Boeing be singing....”
“Happy Days Are Here Again”
Boeing is in the tank for Hillary.
“Another Dem puke. The ‘far-right’ blurb is always a sure tipper.”
You’re right. At first I was surprised to hear jibberish from an outfit like Boeing, but given your research, I guess I shouldn’t be.
> “Boeing and most ***centrist*** Republicans and Democrats argue that the bank is needed to help secure American jobs, while also allowing for U.S. companies to make inroads overseas in emerging markets.”
“The Hill” doesn’t hide their bias. As onlookers of Beltway graft effluent, they surely have sipped and perhaps gulped the K Street Koolaid.
Keating needs to buy a clue. Since the Reagan era the Ex-Im Bank evolved into a crony slush fund for ‘centrist’ groups such as the Barbour gang to skim off the top of the US Treasury for themselves.
The Tea Party’s stance is in direct opposition and is the result of the duplicity of the McConnell, Cochran and Barbour nexus in DC.
Note that Cochran and Barbour are former democrats and IMO they willl be whatever color or stripe that allows them access to the money in DC.
If Boeing needs financing to sell their products, they are are big enough to be their own bank or align with any number of banks that will guarantee credit to foreign buyers. The Ex-Im bank became a little known money hole for corrupt DC insiders. It must be shut down, its role in the plundering of the US Treasury must be stopped and its access to the Federal Reserve money spigots must be turned off.
If Keating had half a brain, he would get behind the Tea Party, get behind Ted Cruz and forge ahead to 2016 where Boeing could emerge as a winner rather than as a hanger on to the current sinking boat of “centrist republicans and democrats”.
It's funny, people see the corporation as some stalwart bastion of conservatism, but nothing could be further from the truth - Boeing was born and bred in the liberal cauldron of the American northwest. It views itself as "progressive" and is run by an extremely liberal group of senior executives. You would be shocked at all of the liberal fantasy programs this company employs in order to bolster its "progressive" chops.
As a retiree after 30+ years of service, I have completely divested of any interest in their stock as they fritter away more than $65B in income every year, not to retain top engineering talent, but instead to chase the latest green fad or employ the trendy new HR program for fags and their "partners".
R-I-G-H-T, because we haven’t seen the failures of gov’t picking/choosing LOSERS as well as it’s done with their green-energy picks.
As a taxpayer, whose funds were ripped from their pockets to be stuffed into your greedy little hands, *I* for one have not seen penny ONE of this supposed ‘loan’/repayment (ala GM)
Someone took his candy away so he is stomping his feet and holding his breath till he turns blue.
EX-IM is crony capitalism. Kill it.
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