Larry Kudlow on Free Trade
Voting against Ex-Im should be a no-brainier. For those who may not be following this story, Ex-Im is a government-run bank that finances foreign competition with the use of loans and loan guarantees to buy American goods.
For example, in fiscal year 2013, Ex-Im backed a $117.5 million loan guarantee to support Boeing 737 purchases by Dubai. Dubai is a wealthy country. This is a state-run airline. Why does the US have to subsidize it? And with our economy growing at a snail's pace, why should taxpayers subsidize Boeing? I don't want to knock Boeing. It's a great company. But it does not need corporate welfare.
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