Kicking the Can Down Crony Lane – Paul Jacob – Page 1

Last week, the U.S. House of Representatives voted to extend the legal ability for the Export-Import Bank to run … for another nine months. The people’s legislature passed the “stop-gap” measure, 319-108, with both bipartisan support and bipartisan opposition.

Just last month, President Obama expressed dismay that Republicans could possibly be against it.

“For some reason,” he intoned, “right now the House Republicans have decided that we shouldn’t do this….” He pretended incredulity and puzzlement. He gave the usual reasoning for the subsidized financial guarantees, and insisted that “every country does this.”

“When,” he inquired, “did that become something that Republicans opposed?”

Obama could’ve asked all those members of his own party who likewise opposed it. He didn’t.

But then, he could have simply asked himself.

Back in 2008, he very clearly put the Ex-Im Bank on the theoretical chopping block. Candidate Obama gave up the big business bank as a program that “didn’t work” and one that had become “little more than a fund for corporate welfare.”

via Kicking the Can Down Crony Lane – Paul Jacob – Page 1.