While you are taking your lunch break today, be sure to read this commentary written by FreedomWorks CEO Adam Brandon in The Hill, titled, “Where is the left on corporate bailouts?”
Conservatives have been leading the charge to end an outdated corporate welfare program. The question everyone should be asking is: where have all the anti-corporation liberals gone?
We’re always told that Republicans are the Party of Big Business, forever eager to sell out ordinary middle-class families to the interests of megacorporations run by billionaire tycoons. And most people still believe it. But when it comes to ending actual corporate welfare, a lot of Democrats are mysteriously silent. Exhibit A: the U.S. Export-Import Bank.
The Ex-Im Bank is an 80-year-old, $2-billion boondoggle created as part of FDR’s New Deal program. It supposedly exists to support U.S. exports, but in reality it is “little more than a fund for corporate welfare.” That quote, by the way, comes from then-Sen. Barack Obama in 2008. He was right then, but big corporate lobbies have now convinced him that the bank is, in fact, a pretty good idea. And he’s not alone.