Liberalphobic.com

Four months ago the charter for the Export Import Bank expired.

Today, after 2-years of debate, Congress will vote on re-opening it. Liberals (Democrats) want the bank restored. The vote was forced by 172 Democrat Representatives and 42 Republicans.

Liberals argue that U.S. companies can’t access foreign export credit without the EX/IM. They point–out that G.E. has moved 100 jobs offshore because of the lack of Ex/Im services.

What EX/IM does is give subsidies to foreign purchasers of American products. It does nothing to create or support U.S. jobs. Rather, it simply redistributes existing jobs from unsubsidized firms to subsidized ones. Between 2007 and 2014 over half the EX/IM money went to help just 10 corporations.

Liberals argue that U.S. small businesses will be crippled by keeping the bank closed. The fact is that less than 1/2 of 1% of small U.S. businesses have been helped by EX/IM.

Conservatives argue that EX/IM usurps free-market export financing.

The EX/IM Bank is the poster child of cronyism.

The following video begins with a snippet of Barack Hussein Obama mocking those who advocate ending cronyism.

UPDATE-OCT.27—
62 Republican Representatives joined 184 Democrats to clear the way for a vote to restore the EX/IM Bank thru 2019. The vote tally was 246 yea, 177 nay, 11 not voting (1 vacant).

UPDATE- OCT.28—

The House vote final tally was 313 YEA and 118 NAY.

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