The Best of the Forge
The United States Export-Import Bank is essentially a microcosm of some of Washington’s biggest problems, from the corruption it encourages, to putting taxpayers at risk, to the cronyism it facilitates.
The alleged purpose of the Bank is to “facilitate exports and imports and the exchange of commodities between the United States and other Nations.” That sounds harmless, perhaps even helpful, until the Bank’s actual operations are exposed. For proof of the Bank existing in part to advance political ideologies, look no further than the Bank’s backing of the failed solar panel company, Solyndra, which was the recipient of an Ex-Im Bank loan guarantee of $10.3 million. American taxpayers shouldn’t be used as pawns in this ongoing game of political correctness and corporate cronyism, while free-market principles are trampled.
The latest Obamacare sign up deadline is today (kind of). But singing up for an Obamacare plan on the federal exchange won’t be so easy. The website is still full of glitches and showing error messages to users.
It comes as no surprise the law remains unpopular among most Americans. A CBS News poll finds 53 percent of Americans disapprove of the law while only 41 percent approve of it. An AP poll last week found only 26 percent of Americans support the law.
What is the Export-Import Bank of the United States? Veronique de Rugy, a senior research fellow at the Mercatus Center at George Mason University, nails it:
The Export-Import Bank is one of the least defensible corporatist boondoggles that taxpayers are forced to subsidize.
The Obama Administration and their allies in Congress are now proudly proclaiming that 7.1 million Americans have enrolled in Obamacare. But when confronted about what the number actually means at a news conference Monday, Rep. Nancy Pelosi (D-CA) 14% dodged the question. She said that Democrats passed Obamacare not to insure the uninsured but to give people quality affordable health care.
This week the House will debate and vote on the Save American Workers Act of 2014 (H.R. 2575), which would repeal Obamacare’s 30-hour rule and replace it with a 40 hour rule.
There is absolutely no doubt Obamacare’s 30-hour work week threshold has harmed individuals as employers predictably cut back on hours. In October 2011, The Heritage Foundation’s James Sherk predicted it would “price many unskilled workers out of full-time employment.