Is the Ex-Im Bank Truly the Work of Satan?

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Veronique de Rugy writes about the recently passed Continuing Resolution that kept the government from shutting down:

I for one am relieved that they didn’t use the CR as a way to restore the full-lending authority of the crony Export Import Bank and I commend the senate for it….[But] this CR funds the government only until December 9, which means that Congress will once again have to consider a massive and unaccountable 2017 spending bill during a lame-duck session. The chance of lawmakers using this opportunity to load the bill with pork projects, Ex-Im’s full revival, and other special-interest handouts…is significant.

This is just an idle question, but how is it that the Export Import Bank became such a tea party hot button? I don’t personally care about it too much one way or the other, but I understand why a lot of people are opposed to it. Still, it’s a relatively small program, and its net cost to taxpayers is zero or close to it. Even if it is a congressional piggy bank, it hardly seems worth getting in a lather about.

So how did it become such a bête noire for the right? Does anyone know if there’s an interesting backstory here?

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This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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