Export Import Bank

Morning Action: Getting Shafted by the Export-Import Bank

Fasten your seatbelts, folks. The debate over huge taxpayer subsidies for Boeing and other corporate high-fliers is getting more turbulent by the day.

At issue is whether Congress ought to reauthorize the Export-Import Bank, which provides subsidized financing for export deals involving billionaire businesses such as the aforementioned aerospace conglomerate as well as General Electric, Caterpillar, John Deere, and Bechtel.

Allowing the bank’s charter to expire is the rational course of action. But with opposition to this particular form of corporate welfare on the rise, Ex-Im officials have turned to dirty tricks to undercut their critics (not unlike their bureaucrat-brethren at the IRS).

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Karl Marx Allee Street Sign, Berlin

Morning Action: Liberals Flock to Marxist Propaganda

Propaganda.  Liberals, including President Obama’s Treasury Secretary Jack Lew, are fawning over a new left-wing manifesto that is now #1 on Amazon.  The Federalist’s David Harsanyi explains what it means and why we should care:

[Thomas] Piketty, a professor at the Paris School of Economics, argues … only a massive transfer of wealth could make our nation whole again.   … But how does a book that evokes Marx and talks about tweaking the Soviet experiment find so much love from people who consider themselves rational, evidence-driven moderates?  … Despite the extremism of his positions, Piketty has already become a folk hero to inequality alarmists everywhere. So if his popularity tells us anything, it’s that many liberal “though leaders” have taken a far more radical position on economic policy than we’re giving them credit for. 

IRS.  The perverse incentives of the federal government continue.  The Associated Press reports the IRS rewarded employees who owe back taxes:

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Capitol Building

Morning Action: The Administration Needlessly Killing Jobs

KEYSTONE.  The Heritage Foundation explains why the Obama Administration’s decision to delay the Keystone XL pipeline is bad for both the environment and jobs:

The Keystone XL pipeline, which President Obama just delayed again, has received an environmental green light multiple times—from this administration.

State Department impact reports have concluded “that the pipeline, a Canada-based project to deliver up to 830,000 barrels of oil per day to Gulf Coast refineries, would pose no significant environmental risk and would not contribute substantially to carbon dioxide emissions,” says Nicolas Loris, Heritage’s Herbert and Joyce Morgan Fellow.

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Capitol Building

Morning Action: One Thing That Would Encourage More Illegal Immigration

AMNESTY.  The Heritage Foundation writes about the latest attempt by some members of Congress to foist amnesty on the American people:

Here’s a disturbing new idea from some members of Congress: Trade instant citizenship to illegal immigrants if they’ll agree to serve in the U.S. military.

Serving in the military is a high calling and a privilege—certainly not something to be treated as a bargaining chip in immigration politics. Yet these congressmen are trying to sneak this provision into the larger National Defense Authorization Act, which lays out the budget for the Department of Defense.

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Capitol Building

Morning Action: Obama Champions Amnesty Bill, Attempts to Bypass Public Opposition

AMNESTY. President Obama is championing amnesty legislation with the head of American Legion, in an effort to “bypass public opposition to passage of a massive business-backed immigration increase”:

The American Legion is suddenly a player in the immigration fight because it has come out in opposition to a minor, but critical amendment to the draft 2015 defense bill. The amendment would broaden the existing rules allowing illegal immigrants to get slots in the U.S. military that are sought by American volunteers.

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