It’s a win for building an economic system free of government meddling. With Congress out on recess and its charter set to expire June 30, the Export-Import Bank will stop issuing loans on Tuesday. The Ex-Im Bank has grown to become an icon of cronyism, because it is a government bank that gave loans to foreign entities looking to buy American goods. It is “a part of yesterday’s economy,” according to chairman of the House Financial Services Committee Rep. Jeb Hensarling (R-TX). “This is a small step toward renewing a competitive free-market economy and arresting the rise of the progressive welfare state and the cronyism connected to it,” he said in a statement. “Ex-Im is not only corporate welfare, it is corporate welfare for foreign companies and countries.” The U.S. will have such a thing as the Ex-Im Bank, but it won’t be issuing loans. Instead, the bank’s employees will be monitoring the loans already dispersed, for example. And yes, some lawmakers who tend toward cronyism could seek to renew the bank, but as The Daily Signal points out, it’s harder to justify restarting the bank than keeping it going.
Who We Are
The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More
What We Offer
On the Web
We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.
Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.
The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!
★ PUBLIUS ★
“Our cause is noble; it is the cause of mankind!” —George Washington
The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.
Copyright © 2021 The Patriot Post. All Rights Reserved.