My intrepid Mercatus Center colleague Veronique de Rugy offers some options on how to deal with that great geyser of cronyism, the U.S. Export-Import Bank, if it’s politically impossible to slay the damn thing. A slice:
As the narrative goes, without Ex-Im many foreign companies would buy Airbus rather than Boeing; hence the need for support. This is a weird argument at many levels. First, as a believer that the government’s job is never, ever, ever to prop up private companies, I would say, “And so what?” But in this town, where people believe it is totally normal for Uncle Sam to work overtime so that a company will make extra private profit, that argument doesn’t go very far.
I have others. Doesn’t it bother anyone how little faith in Boeing those who are claiming that without Ex-Im airlines wouldn’t buy Boeing planes have? Effectively what these guys are saying is “This is a bad product that people wouldn’t want without with Ex-Im.” If this is true, why should the federal government ask us to stand behind Boeing?
The GOP is no party of free enterprise. They are led by a corrupt advocate of cronyism, worse than any stereotype the Bernie Sanders of the world could invent. The GOP may vote for protectionism, for big government, and for the regulatory state — provided it redistributes wealth to their favored groups — but in the minds of many voters, especially young people with limited experience, they think Republicans are the standard bearers of liberty.