In 2008, during a campaign speech in Green Bay, Wisconsin, then-Senator Obama called the Export-Import (ExIm) Bank "little more than a fund for corporate welfare." But don't take our word for it, see the video below:
(h/t Club for Growth for uncovering this video!)
Fast forward to today. President Obama is now urging Congress to reauthorize the ExIm Bank. The Orlando Business Journal reports that President Obama urged businesses to "join the fight over the U.S. Export-Import Bank."
(An interesting aside, the article links to the original story in the New York Times, but when clicking on the link, the NYT page cannot be found.)
While visiting the Boeing plant in Everett, Washington, President Obama gave a speech to union members and urged Congress to support the ExIm Bank. Ooops! That video hasn't been deleted yet. See below:
"So last November, when I was in Indonesia, Boeing announced a deal - with the help of the Export-Import Bank - to sell more than 200 planes to one of the fastest growing airlines in the world. Boeing is one of the largest exporters in the world. This is one of the biggest deals Boeing had ever done."
So we guess he is now praising that same corporate welfare he once derided.
Senator Obama, meet President Obama, a man who will say anything to get re-elected.
Key Vote Alert: "NO" on Export-Import Bank Reauthorization (Senate)
Key Vote Alert: "NO" on Export-Import Bank Reauthorization (House)
ExIm Bank: The Fannie Mae for Exporters
The Washington Establishment's Big Problem
Corporate Welfare Gets New Life
Heritage: Fannie Mae for Exporters Leaves Taxpayers Holding the Bag
WSJ: The Export Subsidy Boomerang