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

Get your news from a source that’s not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily.


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?

BEFORE YOU CLICK AWAY!

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things they don’t like—which is most things that are true.

No one gets to tell Mother Jones what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

payment methods

BEFORE YOU CLICK AWAY!

“Lying.” “Disgusting.” “Scum.” “Slime.” “Corrupt.” “Enemy of the people.” Donald Trump has always made clear what he thinks of journalists. And it’s plain now that his administration intends to do everything it can to stop journalists from reporting things they don’t like—which is most things that are true.

No one gets to tell Mother Jones what to publish or not publish, because no one owns our fiercely independent newsroom. But that also means we need to directly raise the resources it takes to keep our journalism alive. There’s only one way for that to happen, and it’s readers like you stepping up. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate