(2010-07-10) Carney Obama Export Corporate Welfare

Timothy Carney on Barack Obama's export plans. President Obama is not "anti-business," as many conservative critics charge. He's just anti-FreeMarket... Obama's National Export Initiative, embraced by the big business lobby, is a raft of subsidies, handouts and "public-private partnerships." Obama uses the phrase "free trade" to describe this push, but there's nothing free about Corporate Welfare. The heart of Obama's initiative is accelerating the activity of the Export Import Bank, a government agency that subsidizes (Subsidy) U.S. exports. Ex Im lends money directly to foreign companies or governments -- or guarantees private bank loans -- so that the foreign buyers will buy American... Last year, Ex-Im dedicated 64 percent of loans and long-term guarantees to subsidize Boe Ing sales.