The Right’s Newest Bubble Scandal

By Bill Maher

Kevin McCarthy, the new House Majority Leader, announced on Fox News that one of his goals is to get rid of the Export-Import bank, the federal agency that provides loans to foreign entities so they can buy American goods. This wasn’t some new scam Barack Hussein O’Bummer cooked up; the Ex-Im bank has been around since 1936, and was instrumental in helping Europe rebuild after World War 2.

The Ex-Im bank has helped boost exports to $2.2 trillion a year, up from $1.4 trillion five years ago. Sounds like a good thing to me. From what I can tell, it’s not a controversial agency amongst economists who function in the real world. But the Rand Paulians and Tea Partiers hate it because it guaranteed a loan to – wait for it – Solyndra. So it must die. 

Conservatives used to love the Ex-Im bank. And why wouldn’t they – it exists to help businesses make more money. But the bank has become a symbol of corporate welfare and the government “picking winners,” so it’s got to go. 

It’s gotten so bad that the US Chamber of Commerce had to put up a section on its website dispelling the right-wing “myths” about the Ex-Im bank. So now we’re in a situation where the House GOP has officially come out against helping businesses. The party now exists only to harass Obama and hate on immigrants. I’m not sure that’s going to help them win elections.