More Ex Im

So Larry Kudlow is anti-ExIm Bank.

For those who may not be following this story, Ex-Im is a government-run bank that finances foreign competition with the use of loans and loan guarantees to buy American goods. For example, in fiscal year 2013, Ex-Im backed a $117.5 million loan guarantee to support Boeing 737 purchases by Dubai. (Hat tip Charles Lane of the Washington Post.) Dubai is a wealthy country. This is a state-run airline. Why does the United States have to subsidize it? Plus, Dubai has a history of financing jihadist terrorists. So why do we want to help them?

Good news is Eric Cantor was ExIm's biggest supporter in the congress and he was defeated in a recent election.  The bad news is the "tea party" candidate who defeated him hired Cantor's political director.

This won't change.

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