Hensarling at Heritage: End the Export-Import Bank and ‘crony economy’

[TexasTowelie]

WASHINGTON — Rep. Jeb Hensarling, R-Dallas, used an appearance this afternoon at the Heritage Foundation to call on fellow conservatives to reject special interests in Washington, saying government should not pick winners and losers in the U.S. economy. He called it the “Washington crony economy.” He aimed his heaviest fire for the U.S. Export Import Bank, which is due to expire in September unless Congress reauthorizes it.

The banks lends money to foreign companies so they can buy American products. Hensarling faults it especially for using most of its resources to boost sales to already giant American corporations.

“In a fiercely competitive global economy, Ex-Im Bank empowers American businesses to tackle new markets, grow through exports and create new U.S. jobs,” bank spokesman Matt Bevins said in a statement. “Last year, Ex-Im Bank approved the largest number of small-business authorizations in its 80-year history, while supporting approximately 205,000 American jobs and generating a $1 billion profit for taxpayers.”

Hensarling’s speech as prepared for delivery is below.

Rep. Jeb Hensarling, R-Dallas, Speech

http://bizbeatblog.dallasnews.com/2014/05/hensarling-at-heritage-end-the-export-import-bank-and-crony-economy.html/

[haele]

1. They could care less what he says. Heritage Foundation is full of crony economy parasites.

It's a pretty show to get votes from rubes who can't see behind the curtain. And to lay ground for takedown by talking-point.

I wonder what the EM-IM did to piss them off?

Haele