Posted on 06/26/2014 4:06:40 PM PDT by right-wing agnostic
Of all the purposes for which you might put U.S. taxpayer dollars at risk, helping wealthy petro-states borrow millions to buy Boeing jets would not rank among the most urgent.
Yet that is what the Export-Import Bank does: In fiscal 2013, Ex-Im backed $8.3 billion in aircraft and related sales, including a $117.5 million loan guarantee to support Boeing 737 purchases by Dubai a typical transaction for an agency that has, over the years, earned the sobriquet Bank of Boeing, though it does also support Caterpillar and General Electric, among others.
Now Ex-Im suddenly faces extinction: Its charter expires Sept. 30, and the agencys best friend in the House Republican leadership, former majority leader Eric Cantor (Va.), who shepherded a bipartisan reauthorization bill in 2012, lost his GOP primary this month. Ex-Im must contend instead with free-market Republicans such as Jeb Hensarling (Tex.), chairman of the committee that oversees Ex-Im, and a new majority leader, Kevin McCarthy (R-Calif.), who has abandoned his past support for Ex-Im in deference to the tea party.
(Excerpt) Read more at washingtonpost.com ...
I’m ok with losing it. One less reason for businesses to ‘lobby’ the government rather than using their money to develop goods and services people wants to buy.
Apparently, this is actually called “The Bank of Boeing” on Capitol Hill.
Boeing can go bank with Goldman Saks or JP Morgan.
What % of the Federal budget is that?
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